Emma Asma Cornwall
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Emma Asma Cornwall in Barbie Stocks,

Is Burberry about to bounce?

British luxury-goods maker Burberry Group reported first-half profit that beat estimates. Adjusted pretax profit in the six months through September rose 3 percent to 152.9 million pounds ($233 million), while analysts polled by Bloomberg predicted 144.2 million pounds.

CEO Christopher Bailey is cutting bonuses and consolidating products under single label due to slowing luxury demand in China. Cutting costs is always good for stocks, and if we check technical picture, there is a diamond pattern on daily chart. Although it is located in the bottom, one could still suggest potential reversal...