Trade Idea for PJSC Magnitogorsk Iron & Steel Works

PJSC Magnitogorsk Iron & Steel Works

#MAGN

The trend is bullish. The stock is trading within the range between the 365 EMA and 135 EMA. The truncated descending wave structure has completed with a breakout of the trend channel. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator has exited the oversold zone.

Trading Idea:

Buy on a breakout above 28.080.

Stop Loss: 27.600.

Target levels: 28.700; 29.200.