CF Industries Trading Analysis (14/06/2023)

#CF
 

The general trend is downward. The stock is traded between 365 and 135 moving averages and along the upper border of the descending price channel.  The uptrend wave structure is truncated. The bearish divergence is forming on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
 

Trading idea:

Sell at the formation of the downward wave structure, where the A-wave breaches the sloping channel of the ascending truncated structure.

Stop-Loss over the local maximum of the ascending structure.

Target price levels: 65.80, 63.50.


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