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$KER: Luxury Goods Stock Kering Provides a Buying Opportunity

April 12, 2022 By

Kering is a French multinational luxury goods company. Headquartered in Paris, Kering was founded 1963 as Pinault S.A. The company controls and manages 3 prestigious brands: Gucci, Yves Saint Laurent and Bottega Veneta. Kering is a part of CAC40 index. Investors can trade it under the ticker $KER at Euronext Paris.

Kering Monthly Elliott Wave Analysis 04.11.2022

The monthly chart below shows the Kering stock $KER listed at Euronext. From the all-time lows, first, the stock price has developed a cycle higher in wave (I) of a super cycle degree. It has ended in January 2000 at 268.00. From the top, a correction lower in wave (II) has unfolded as an Elliott Wave zigzag pattern. It has printed a bottom in November 2008 at 31.06.

From the 2008 lows, Kering has broken to new highs. Hereby, this rise shows an extension of more than 2.618 multiples in relation to the length of the wave (I). Without any doubt, one can qualify the cycle higher as the blue wave (III). From 2008 lows, it shows completed 5 waves higher of a cycle degree. From August 2021 highs until today, the blue wave (IV) is correcting a part of the impulsive rise. Once ended, expect the blue wave (V) to extend to the new all-time highs.

Kering Daily Elliott Wave Analysis 04.11.2022

The daily chart below shows the correction lower in wave (IV) in more detail. From August 2021, the pullback is unfolding as an Elliott wave zigzag pattern. First, five subwaves of red wave a have ended in October 2021. Then, a bounce in 3 swings of red wave b has found its peak in January 2022. From 740.80 highs, red wave c is currently in progress. It has the appearence of an ending diagonal being a 33333 structure.

Investors and traders can be looking to buy the pullback in wave (IV) against 31.06 lows from 545.26-424.40 area targeting 863.50-968.53 area. Alternatively, a bounce in 3 waves as minimum should take place from the blue box area.

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