LVMH is down this morning after earnings release. The stock seems to be forming a triangle like pattern on daily chart currently testing the lower rising trendline
A close below followed by a close below minor support at around 814.40 could send the share price down to strong support at round 774.70. Support at around 805.80
Share price is also below the 55 and 100 daily Moving Averages AND below the Cloud . If RSI is also closing below 40 threshold, which it is likely to do if share close below 814.40, the short-term downtrend has been confirmed.
Medium-term rising trendline has been broken a few weeks ago. And a close below 800 on the weekly chart will confirm medium-term downtrend that could be accelerated if LVMH is breaking below 774.70. A move down into the consolidation area 733 -674 could be seen. Upper level of the area at around 733 is the strongest support level.
For LVMH to reverse the rather short-term bearish picture a close above 870 is needed. Medium-term a close above 893 is needed