Lenovo Trading Analysis (23/08/2024)
The downward wave structures are truncated (the formation of the reverse wave model 'Boguraev's Matryoshka' may start). There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending wave structure.
- Stop-loss at 9.15.
- Price targets at 9.95 and 10.40.
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