$UHRN : Swatch Group Started a New Larger Cycle Higher

Swatch Group is a Swiss manufacturer of watches and jewellery. Besides the product line Swatch, the group owns brands including Blancpain, Breguet, ETA, Glashütte, Omega, Longines, Tissot, Hamilton, Certina, Rado and Harry Winston. As a matter of fact, the Swatch company employs about 36000 people in over 50 countries. Founded 1983 and headquartered in Biel/Bienne, Switzerland, it can be traded under tickers $UHRN and $UHR at Six Swiss Exchange. After printing the all-time highs in April 2014, the stock price has lost about 3/4 of the price by March 2020. Currently, we see Swatch starting a new larger cycle higher.

Swatch Monthly Elliott Wave Analysis 03.06.2021

The monthly chart below shows the Swatch stock $UHRN traded at Six Swiss. From the all-time lows, the stock price has developed a cycle higher in wave ((I)) of a grand super cycle degree. Swatch has printed the all-time highs in April 2014 at 108.00.  Without any doubt, the advance is a textbook quality impulsive move up in 5 waves. Also, the subdivisions are motive waves, too. From April 2014 highs, a correction lower in wave ((II)) has unfolded as a double three pattern being 3-3-3 structure. It has reached the equal legs extension area towards 31.74-17.66. From that area, a strong reaction higher can be seen. Hereby, Swatch might be in the first stages of a new cycle in black wave ((III)) higher. While above 28.56, Swatch should extend towards the new all-time highs targeting the 135.96-202.34 area and even higher.

Swatch Elliott Wave Monthly

Swatch Daily Elliott Wave Analysis 03.06.2021

The daily chart below shows the advance higher in red wave I of blue wave I from the March 2020 lows. Within it, subwaves ((1))-((4)) have ended. Currently, wave ((5)) is in progress and is counting already 3 waves up. It is possible that the cycle in wave I will end soon and a correction in wave II will start in coming weeks. Hereby, the stock is expected to find support in 3, 7, 11 swings above 28.56 lows. Therefore, investors and traders can be looking to buy the wave II pullback for a rally in wave III.

Swatch Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/swatch-new-larger-cycle-higher/