05.05.2022
#EMN
The general trend is descendant. The share is traded between 365 and 135 moving averages. Stochastic Oscillator signals overbought conditions. The resistance level 108.35 restrains buyers. The ascendant wave structure is the wave (B) of the descendant structure of the large wave level.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel if the ascendant structure.
Stop-loss is over the local maximum of the ascendant structure.
Target level: 100.00; 98.00.
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