Oxy Trading Analysis (16/10/2023)

The trend is descending. The stock is traded nearabout the upper border of the descending price channel. The upward wave structure is truncated. 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, when the A-wave breaches the sloping channel of the truncated structure.

Stop-Loss: 64.75.

Target price levels: 62.50, 60.20.
 

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