Patience Required In Movado

We are eyeing up the Movado group for a long-term play. The video below has a monthly chart going back about 15 years and like we always say to our followers, long-term charts are extremely important. The technical analysis approach is all about history repeating itself and investing in-line with the underlying trend. Remember that it takes so much more effort for a long-term Trend to reverse rather than continue. Although shares have been making higher highs over the past few years, they are caught at present in a trading range where they have consistently tested key support levels. We outline in the video why there is no rush getting long the stock at present despite the company´s very attractive valuation of a book multiple of just over 1.0 and a sales multiple of 0.8.

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