Kering SA - H&S Pattern looking for deeper correction

On the monthly chart, Kering's outlook isn't looking great at all. Trading below ichimoku cloud and RSI below 50. There is a major bearish divergence spotted on RSI that isn't improving the outlook. Once EUR 400 - EUR 380 support is lost, expect some heavy selling towards EUR 240 - EUR 230 area. Could take weeks/months to unfold. This goes well with my fundamental view for the stock. Not FA.

Trade ist aktiv:

Price retraced -17% since our call, confirming the H&S pattern. If H&S structure plays out then expect breakdown towards next supports at EUR 291 and potentially lower at EUR 250.