Simple bullish setup with good Money management (R/R> 1:3)
Burberry Group plc is a manufacturer, wholesaler and retailer of luxury goods. The Company also licenses third parties to manufacture and distribute products using the Burberry trademarks. The Company's segments include retail/wholesale and licensing. The Retail/wholesale segment is engaged in the sale...
Last post: June 1st. See chart .
Review: Price was starting to make new all-time highs and was looking strong.
Update: Price is still looking strong and is currently doing a pullback.
Conclusion: We need to see a breakout of the previous high before considering long trades.
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This stock is featuring for the first time on our TradingView blogs.
Current setup: Price is above the previous all-time high and making new highs.
Conclusion: We will be waiting for a breakout on the daily timeframe to look for trading opportunities as this will confirm a continuation of the uptrend. If price breaks below the support levels then we will have...
Bought Burberry back on January 30. It is a small and rather an unusual liberal trade for me. I am looking for price to bounce up to 1770 within a few weeks. Otherwise, I am stopping myself at 1484.
Bearish divergence if followed by a downside break from the rising channel would signal the rally from 1039 (June 13 low) has topped out at 1879. The stock could then proceed to test demand around 1543 (April low).
MACD, though below zero, shows the momentum has stalled. A day end close below the rising trend line would open doors for a further sell-off to 1277 (August lows).
It is advisable to be on a 'wait and watch' mode.
On the higher side, only a daily close above 1450 would signal a possible revisit to recent highs around 1550.
Burberry shares are up almost 3% and are the top performer in the FTSE100 index.
A day end close above 1377 (Aug 24 high) would mark a bullish break and open doors for 1468 (Mar 3 high).
However, check the volume… the three-day winning streak (including today’s gains) is accompanied by falling volumes. Hence, bulls should observe caution as there could be a...
Burberry's sharp rise this week suggests a bottom is in place around 1080 and once prices break above falling trend line hurdle seen today at 1320, the doors would be opened for a test of double bottom neckline resistance at 1468.
On the other hand, a failure to break above weekly 50-MA level of 1261 followed by a retreat below this week's low of 1160 could...
![BRBY: [BURBERRY] SIMPLE SETUP](https://s3.tradingview.com/z/z6ODBWGF_mid.png "[BURBERRY] SIMPLE SETUP")
