$JSECFR - Richemont: Wave 4 Correction Looks Complete
See link below for previous analysis.
The wave 4 forecasted in the previous analysis turned out to be much deeper but looks to have bottomed at 215732 cps.
The overall structure from 147340 is still an impulse so wave 5 could be in its early stages now.
What is key is that 215732 holds and this level should be used as a stop-loss.
What is further encouraging is that the MACD started turning up before price and has recently broken above the zero-line after many months trading below it. This is bullish from a momentum perspective.
The wave 4 forecasted in the previous analysis turned out to be much deeper but looks to have bottomed at 215732 cps.
The overall structure from 147340 is still an impulse so wave 5 could be in its early stages now.
What is key is that 215732 holds and this level should be used as a stop-loss.
What is further encouraging is that the MACD started turning up before price and has recently broken above the zero-line after many months trading below it. This is bullish from a momentum perspective.
