We are bearish on retail apparel companies for the most part given the current macroeconomic environment which has a decent probability to continue well into 2023. R = 2.13 on this trade which makes it a go for us.
back to highs possibly. interesting price levels. already in long long term, this price reflects a price that is interesting yet again. back to highs as per usual. no real timestamp in the outlook.
H&M will soon release their new collection of clothes, a collaboration with ''Menwithclass'' who has nearly 5 million instagram followers. This means a lot of marketing on social media for their webshop, and also a lot of more sales. I expect they'll break the trend-roof in the near future.
Technical: The support resistance is getting testing at 170 and the bottoms are consistently getting higher. H&M is a good long term hold in an increasing trend. Once it breaks out above 170 it will reach higher levels.
Fundamental: H&M digital turn-around and finacial reports shows signs of improving into an omni channel future with ecommerce in place. The...
Well the bottom is in for H&M.
We finished of the bear market with a textbook triple zig zag with a zig zag x wave.
Elliott wave theory is validated with a 1:1 fib ext X->Y nad X->Z
