Trade Idea for General Dynamics Corp. (NYSE)

General Dynamics Corp. (NYSE)

#GD

    The trend is upward. The stock is trading between the 365 EMA and 135 EMA on the H1 timeframe. The truncated descending wave structure has completed with a breakout of the trend channel. The Stochastic Oscillator signals oversold conditions. An entry point is forming based on a “pullback in wave B + truncated wave C” setup.

Trading Idea:

Buy on a breakout of 336.54.

Stop Loss: 333.33.

Target levels: 341.85; 346.80.