Trade Idea for PJSC SURGUTNEFTEGAS

PJSC SURGUTNEFTEGAS  (MICEX)

#SNGS

The trend is upward. The stock is trading within the range of the 365 and 135 EMAs. The downward wave structure is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy on the formation of an upward wave structure, where wave (A) breaks through the descending channel of the truncated downward structure.

Stop Loss – 22.150 (local low of the downward structure).

Target levels – 23.370; 24.430.