BioNTech Trading Analysis (31/08/2023)
The trend is descending. The upward wave structure is truncated. Bulls tested the mirror level of 125.50. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
Trading idea:
Sell at the formation of the descending wave structure, where the A-wave breaches the sloping channel of the uptrend truncated structure.
Stop-Loss under the local maximum of 125.50.
Target price levels 115.50, 104.80.
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