DBD Strategy Daily - LUXURY REVIEW
We wrote yesterday that the European Personal and Household Goods sector was under-performing. We review luxury stocks for important levels. Those stocks have entered into consolidation process. There are no major sell signals in the medium term. It looks more like a sideways development that could last longer. Richemont, which is the weakest one of our review, has reached the neckline of a potential head-and-shoulders. We do not expect it to trigger the pattern immediately. It should bounce for a week or maybe two. If and when it breaks, it will be an advanced signal for other stocks.
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