Trading idea for PJSC Magnit (MICEX)

#MAGNIT

The overall trend is upward. The descending pattern of the H8 level is truncated. The support level of 4900 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and the moving averages of  Stochastic Oscillator have come out of the oversold zone.  The stock is trading in the upper boundary of the Ichimoku cloud.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern of the H8 level.

Stop loss under the local minimum (4900).

Target levels: 5200; 5535; 5763.