29 May 2024

LVMH Approaching an Interesting Zone

LVMH (MC FP) has consolidated 17% since the March highs. It's now filling in the January earnings gap zone between 690-730. It has also reached the 61.8% Fibonacci retracement level and is in the discount zone for prop traders. The major long-term support swing low is at 644. Keep an eye on this stock over the next few days. Source : Bloomberg

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