SWATCH - Make-it-or-Break-it - 310 is the level
Swatch has traced out five big upwaves from the low in 1995. The fifth upleg peaked at 606.50 on 28.11.2013, close to five years ago. Since this all-time high UHR has been tracing out a major correction. Interestingly enough, the decline from the all-time high to the low on 2nd August 2016 at 246 retraced quite exactly 61.80% of the previous secular uptrend 1995/2013.
The rise from August 2017 carried to a high on 12th June at 499 and was followed by the decline which is still unfolding.
The internal wave correlations within the decline from June 2018 indicates that several major supports are clustered around 327 to 315.
It seems obvious that a break of 315 would lead to another selloff to the secular support range between 275 and 250. Moreover, it seems obvious that a break of 250 could mean that Swatch could fall to 140.
A break of 315 / 310 would TRIGGER ANOTHER MAJOR SELL SIGNAL.
Resistance is 365, 390, 410 and 470.