Burberry down.
The Entry
- My favourable entry would have been at 1856.5, however the current price at 1729.0 is a clear break down of the 0.382 fib level
- This is also tied to the overall bearish market direction and sentiment
The Situation - Technology stocks have taken a beating and in light of the trade tensions and lower CN travellers, luxury stocks are in a very uncertain position.
- Recent Sales numbers have slow continued to slide
Issues & Risks - There is a new Creative director, but I am not sure that is enough to change a business in the short term.
- I am also worried about hitting my target price at 1502.5, so we will have to break up my buys in to 3 batches to lower the risk
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