MONCLER BULLISH SCENARIO Technical outlook:
Moncler S.p.A. (MONC.mi) daily chart. Moncler is an Italian luxury ski wear brand. Bought by Italian entrepreneur Remo Ruffini in 2003, who transformed, reinvented the near-bankrupt company which later was listed on the Milan Stock Exchange in 2013. In December 2020, Moncler purchased 100% stake of Italian luxury sportswear brand Stone Island in a reported €1.15 billion acquisition. The Triangle has broken through the resistance line at 22/05/2021, if the price holds above this level experts believe possible bullish price movement may occur for the next 21 days towards 55.60 EUR. The stop loss order should be placed at 49.93 EUR.
Fundamentals:
-Moncler chairman and chief executive officer Remo Ruffini believes 2021 will be a year “of rebirth and fresh energy,” as well as “of great work and zest for new projects.”
-The year has certainly started well, with China, Korea and North America lifting Moncler revenues up 18 percent to 365.5 million euros in the last three months ended March 31, compared with 310.1 million euros in the same period of 2020. At constant exchange rates, sales have risen by 21 %. Compared to the first quarter of 2019, sales dropped by 3 %.
