Trading idea for PJSC Aeroflot

#AEROFLOT

The pandemic is weakening amid the onslaught of laboratory scientists developing vaccines. Vaccination is gaining momentum all over the world. Mass restrictions are getting softer. The authorities are opening air links with the countries. The world is gradually returning to normal! All this points to a possible early recovery of air carriers.

A descending construction of the H4 level has formed on the #AEROFLOT chart, which is still truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator 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 local minimum of the descending pattern.

Target levels: 74.20; 89.00.