Magnit Trading Analysis (23/05/2024)

The trend is ascending. The stock is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downtrend truncated structure.

Stop-Loss at 8012.

Target price levels at 8265 and 8425.

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