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Trading idea for PJSC Surgutneftegaz

04.02.2021

Market Review

#SNGS
The company has huge reserves of foreign currency and the resumption of growing US dollar against the Russian ruble may resume the shares price growth.
Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator moving averages have moved out of the oversold zone. The breakout of 35.50 will result in the formation of an ascending wave pattern of the H1 level.


Trading idea:
Buy at the breakout of 34.50.
Stop Loss: 33.30.
Target levels: 36.20; 37.80 and 41.80 (long-term)

Author: GC
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