IPG Photonics Trading Analysis (11/07/2024)

The trend is down. The stock is trading in the range between 365 and 135 EMA. The ascending 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 over the local maximum of the ascending structure at 86.20.
• Price targets at 83.00 and 80.22.

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