Trade idea for Iberdrola (BM)

#IBE

The ascendant wave structure is truncated. Moving averages 365 and 135 signal descendant movement. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator shows overbought conditions.

Trade idea:

Sell when the descendant wave structure forms, where a wave (A) breaches the inclined channel of the ascendant truncated structure.

Stop-loss beyond the local maximum of the ascendant truncated structure.

Target levels: 9.300; 9.106.