ACR trade ideas
Accor SA (AC) - choppy or trendy - what’s next big move ? Accor SA (AC - France) has completed B wave down in ABC wave correction pattern, where C wave is started moving up. Wave 1st of C already over and 2nd wave correction is on the way, so wait for it’s completion to get in to trade. But keep eye on invalidation level of 22.59 as stops, which is the low of wave 1 to invalidate the C wave In 4 hr chart it completed C wave downside and now its correction as new cycle is under progress. In weekly time frame, it is on complex correction and will extend it once it the upper new cycle will over as shown in chart.
Accor SA (ACC - France) - ABC wave patternAccor SA (ACC - France) is in ABC wave pattern zigzag from major low on 60 min chart. It is now 4th wave correction and go for one more high of C wave, which might cross the level of reverse the temporary trend. It has completed C wave down of WXY down wave. In weekly time frame, it is on complex correction and will extend it once it the upper new cycle will over as shown in chart.
This is just a set up not a trade right now, but if it works as i thought, then it will be big reversal and provide buying set up.
Accor in the + despite global hotels chains fallingMy most recent post was also about Accor(AC), and since the most recent news about Marriott I'm assured we have a long way to go. with Mariott now down with 65% which I estimate will bounce between 5-10%. this realistically still leaves room for another 10-20% drop for Accor hotels. take my news as you want, but Accor made big investment into buying another hotel group last Friday, of which I estimate the price was based on the early-corona stages.
asides from this the Accor group has a total revenue of about 5,5bil, where the services are responsible for about 1,5 bil. which leaves a large quantity of their business very vulnerable.
bottom is around €18 current puts based on a price around €22,8
A LONG opportunity for Wave E completion, then to a Big SHORT !It seems that as some other players in the Lodgement / Hospitality industry, ACCOR is not immune to market sentiment and investor scrutiny... where currently a LONG position with a reasonable entry is a good trade, but only until what seems to be a completion of a triangle wave E, where if my analysis is correct, there should be a massive SHORT opportunity to trade an Impulse a significant way down.
EMAs all show the start of the Upward bullish trend together with TDI suggesting we have already had the Shark fin with blood in the water at Wave D point, which confirms the upward trend.
Hopefully market sentiment will not punish ACCOR too much for lagging behind market expectations and performance. It seems some upper management 'proverbials' need kicking, very hard and very soon, in order for better performance to progress faster, in order to avoid a negative market sentiment which would be expressed in an Impulse wave downward, wiping off significant value from this stock.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
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