Magnit Trading Analysis (14/01/2025)
The trend is ascending. The stock is trading in a range between 365 and 135 ЕМАs on the H1 timeframe. 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 wave A breaks the 4670 level (pivot 2 of the descending structure).
- Stop-loss at 4587.
- Price targets at 4850 and 4962.
#magnit #stock #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor
