Magnit Trading Analysis (03/07/2025)
The trend is ascending. The stock is trading within a range of 365 and 135 EMAs on the H1 timeframe. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator and the Stochastic Oscillator's moving averages have exited the oversold zone.
Trade idea:
- Buy when the ascending wave structure begins forming, when wave A breaches the sloping channel of the truncated descending structure.
- Stop-loss at 3612.
- Price targets are 3710 and 3750.
#magnit #stock #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor
