$EL - WATCHLIST - BREAKOUT!
Added 2025-01-23 11:01:51 +0000 UTCMorning scan has caught another breakout and this is one we have been waiting for a loonnnng time.
Clear break above the 50 Day MA and out of this 3 year ABC channel.
I suspect there will be a bounce to the 0.78 Fib next at $87 or even to the 200 Day MA at $199 before a pull back will come in next.
Earnings will be out during the first week of Feb, so bulls are optimistic
A new impulse wave could send this considerably high but we need to see how the waves develop first for Wave 1 and 2....and they need to beat earnings comfortably.
As always a retest of the breakout level at $74 and holding is always welcomed and a buy signal too.
Comments
This one could be big ... LVMH, EL and other luxury/beauty brands are breaking due to no tariff announcements on China ... These are correlated with Baba and Bidu
DC
2025-01-23 14:53:39 +0000 UTC
