(News Bulletin 247) – Continuing the implementation of our hedging strategy with a short sale operation on KERING.
NB: operators who followed our short sale recommendation on this same file dated 10/19 will be able to maintain the position by taking care to adjust the stop and the price objective with the elements presented here.
KEY GRAPHIC ELEMENTS
The very heavy configuration of KERING, since May 9 and an exit from the range, results in decomposable bearish legs, below the remarkable 50 or 20 day moving averages. The latest acceleration to date, from September 4 to 6, was accompanied by very thin continuation gaps rich in lessons. A continued decline in prices remains the preferred option.
FORECAST
Considering the key chart factors we mentioned, our view is bearish on KERING stock in the short term.
The News Bulletin 247 team therefore suggests that active investors bet on this bearish scenario, by selling KERING shares short at a price of €413,650 and aiming for a target of €351,000. It is strongly recommended to place a stop order at €443,000.
News Bulletin 247 advice
DAILY DATA CHART
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