Trade idea for Industria de Diseno Textil (BM)

#ITX

The company’s shares continue to decrease, becoming more attractive for buying. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. Bears have tested the support of January 2021.

Trade idea:

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

Stop-loss below the local minimum (24.67).

Target levels: 27.55; 29.01.