Trading idea for Commerzbank AG (BM)

#CBK

The overall trend is upward. The support level of 5.020 is holding back sellers. The descending wave pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicator signals oversold conditions.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop Loss under the support level of 5.020.

Target levels: 5.740; 5.931.