IBM Trading Analysis (10/07/2024)
The trend is descending. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell at the beginning of the formation of the downward wave structure, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 178.50.
- Price targets at 170.50 and 163.80.
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