Ferrari N.V. Trading Analysis (29/05/2024)

The overall trend is ascending. The stock is trading in the range between 365 and 135 ЕМА. The downward wave structure is truncated. The Stochastic Oscillator signals the oversold state.

Trading idea:

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

Stop-Loss at 409.70.

Target price levels at 423.40 and 430.00.

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