Trading idea for Diageo (LSE)

#DGE

The British alcohol company has announced yesterday that it quits the Russian market. This will lead to serious losses.

The share is traded inside the span of the descendant price channel’s lower border. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms.

Stop-loss is over the local maximum of the ascendant structure.

Target level: 34.1700.