Looking at the Richemont, we may derive the following from the weekly chart:
1. CFR is at a notable resistance level where price has slowly started to reject the previous trend line. (The backtest)
2. We are seeing a correction pattern in play.
3. I am favouring a move to downside in the near future.
4. If the backtest holds, bears will bring the price...
Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, and Montblanc.
The history of growth in group sales was driven by a number of factors including geographic spread,...