Carrefour is one of the world's largest grocery retailers, think of it as the European Walmart. But the execution of the business by management could not be any different. We are talking about a 90% decline since it's highs in 1999. Failed market expansion, competition from budget retailers like Aldi and Lidl, online retailers have taken market share. This company has suffered and anyone bag holding this must have written this off as a bad nightmare.
The chart suggests that we could be back in an accumulation phase. We are sitting at the 25 year trend line resistance, if this is broken and we reclaim the POC, this could set up for a nice counter rally.
This chart is more a warning than an investment idea. Don't get caught out holding bags, especially not in retail names with weak moat and intense competition.
The chart suggests that we could be back in an accumulation phase. We are sitting at the 25 year trend line resistance, if this is broken and we reclaim the POC, this could set up for a nice counter rally.
This chart is more a warning than an investment idea. Don't get caught out holding bags, especially not in retail names with weak moat and intense competition.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.