LVMH

Bearish rising wedge setup for LVMH has forming since early 2011. It also hasn’t been able to clear weekly RSI of 65. Short term resistance/support is 134.9/129. Mid term, 120 at 38.2% fib extension is good entry if the wedge breaks down. Lower mid term support is 111.

If it does clear 143 & stays above, next target is around 167, but Im currently on the bear camp. Maybe they should buy Michael Kors…

lvmh220213

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