Lenovo Trading Analysis (12/11/2024)
The trend is overall ascending. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when the wave A breaches the sloping channel of the descending truncated structure.
- Stop-loss at 9.54 (under the local minimum of the descending structure).
- Price targets at 10.50 and 11.77.
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