Trade Idea for Commerzbank AG (BM)

Commerzbank AG (BM)

#CBK

The trend is downward. The stock is trading within the range of the 365 and 135 EMAs. The upward truncated wave structure has been completed with a breakout of the ascending channel. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on a breakout below 32.020.

Stop Loss – 32.700.

Target levels – 31.250; 29.650.