Trade Idea for Coca-Cola Enterprises (NYSE)

Coca-Cola Enterprises (NYSE)

#CCE

The trend is bearish. The ascending wave structure is truncated. The stock is trading within the range between the 365 EMA and 135 EMA. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading Idea:

Sell upon the formation of a descending wave structure, where wave (A) breaks through the trend channel of the truncated ascending structure.

Stop Loss: 89.43.

Target levels: 87.33; 85.00.