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Mieznoo821

Kering SA - H&S Pattern looking for deeper correction

Kort
KERING (EURONEXT:KER)  
Mieznoo821 Uppdaterad   
EURONEXT:KER   KERING
Chart Patterns Head and Shoulders
2
0
chartpattern headandshoulders
On the monthly chart, Kering's outlook isn't looking great at all. Trading below ichimoku cloud and RSI below 50. There is a major bearish divergence spotted on RSI that isn't improving the outlook. Once EUR 400 - EUR 380 support is lost, expect some heavy selling towards EUR 240 - EUR 230 area. Could take weeks/months to unfold. This goes well with my fundamental view for the stock. Not FA.
Handel aktiv:
Price retraced -17% since our call, confirming the H&S pattern. If H&S structure plays out then expect breakdown towards next supports at EUR 291 and potentially lower at EUR 250.
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