Affiliated Managers Group Inc. (NYSE) Analysis, Chart, and Trading Idea

#AMG

Industry: Finance
 

The trend is ascending. The stock is traded in the range between 365 and 135 moving average. The descending wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending truncated structure;

Stop-loss: under the local minimum 159.15;

Target price levels: 168.50, 171.50.