Trading idea for Great Wall Motor (HKEX)

#GWILLY

The mirror level of 11.70 is holding the sellers back. The downward wave structure is truncated. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator indicator signals oversold. An entry point is formed on a B pullback.

Trade idea:

Buy on the formation of an upward wave structure where wave (A) breaks the downward sloping truncated structure channel.

Stop loss under the local low of the descending truncated structure.

Target levels: 14.50; 17.20.