Lenovo Trading Analysis (11/08/2023)

The trend is, overall, ascending. The bears tested the mirror level of 7.94. The stock is traded in the range between 365 and 135 EMA. The Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the formation of the upward wave structure, where the A wave breaches the sloping channel of the downward structure.

Stop-Loss at the local minimum of 7.94.

Target price levels: 8.80, 9.42.


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