Asset Watch
Tuesday, December 19, 2023
Investors are known to price in accelerating fundamentals before they’re realised, so LVMH could catch up to the broader market in the months ahead.
The stock confronts resistance around €760, as the level is near the January 2022 highs and the March 2023 lows. As a result, it needs to surpass these hurdles for the bullish momentum to continue.
Yet, the 20-day moving average has been a reliable gauge of short-term momentum, and it acted as resistance after the stock sold off in July. Conversely, LVMH is now trading above the 20-day MA, and if it holds, it could help usher a breakout above €760.
So, does LVMH offer value at these levels, or will it remain a laggard in 2024?