The Southwestern Energy Company (NYSE) Analysis, Chart, and Trading Idea
#SWN
The descending truncated wave structure finished with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The breach of 5.42 will start the formation of the ascending wave structure.
Trading idea:
Buy at the breach of 5.42;
Stop-loss: 5.00;
Target price levels: 6.11, 7.30.
