Range Resources Trading Analysis (08/07/2022)

#RRC

The general trend is ascendant. The descendant truncated wave structure has finished breaching the inclined channel. Bears have tested the lower border of the ascendant price channel. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when the ascendant wave structure forms.

Stop-loss: 23.30.

Target levels: 29.40; 36.00.