Trading idea for Repsol AG (BM)

Repsol AG (BM)

#REP

The trend is bullish. The stock is trading between the 365 EMA and the 135 EMA. The bearish wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy upon the formation of a bullish wave pattern where wave (A) breaks the trendline of the bearish truncated pattern.

Stop Loss: 28.84.

Target levels: 30.07; 30.80.