Richemont Monthly Chart | Although being a business in a solid financial position, the recent virus outbreak has posed a risk to travel and luxury spend. In addition the 25x earnings multiple may not be pricing aforementioned risk. At current levels, technical setup sees the share trading toward the lower boundary of the channel that has been in development since July 2013, while a large megaphone formation has also been developed. A break below this channel opens up 7800c and potentially 6000c.
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.
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.