Range Resources Trading Analysis (17/06/2022)

#RRC

The general trend is ascendant. The descendant wave structure is truncated. Bears have tested the lower border of the ascendant price channel. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure (buy from the lower border of the ascendant price channel).

Stop-loss is below the local minimum of the descendant structure.

Target levels: 32.00; 36.00.