Magnit Trading Analysis (22/01/2025)
The trend is ascending. The stock is trading in a range between 365 and 135 ЕМАs on the H1 timeframe. The downward truncated wave structure ended with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator's moving averages are out of the oversold zone.
Trade idea:
- Buy on the breach of 4721.
- Stop-loss at 4587.
- Price targets at 4920 and 5190.
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