Short term view - CIE FINANCIERE RICHEMONT SA : Rising consolidation.
The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at CHF 74.18.The next target is at CHF 66.03, then CHF 62.73. Passing CHF 82.22 would question the continuation of the fall.
Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
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