Severstal Trading Analysis (22/02/2024)

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

Trading idea:

Buy at the formation of the ascending wave structure, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 1550.0 (local minimum of the descending structure).

Target price levels at 1621.3 and 1678.5.

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