Kering is a French multinational luxury goods company. Headquartered in Paris, Kering was founded 1963 as Pinault S.A. The company controls and manages 3 prestigious brands: Gucci, Yves Saint Laurent and Bottega Veneta. Kering is a part of CAC40 index. Investors can trade it under the ticker $KER at Euronext Paris.
Kering Monthly Elliott Wave Analysis 08.23.2021
The monthly chart below shows the Kering stock $KER listed at Euronext. From the all-time lows, first, the stock price has developed a cycle higher in wave (I) of a super cycle degree. It has ended in January 2000 at 268.00. From the top, a correction lower in wave (II) has unfolded as an Elliott Wave zigzag pattern. It has printed a bottom in November 2008 at 31.06.
From the 2008 lows, Kering has broken to new highs and is still within a strong rally. This rise shows an extension of more than 2.618 multiples in relation to the length of the wave (I). Without any doubt, one can qualify the cycle higher as the blue wave (III). From 2008 lows, it shows 5 waves higher of cycle degree. Currently, the red wave V is extending higher and should still see more upside in the coming months. Then, expect the blue wave (III) to end and a pullback in blue wave (IV) to happen. Investors and traders can be looking to buy wave (IV) in 3, 7 or 11 swings against 31.06 lows expecting more upside in blue wave (V).