Trading idea for Marks and Spencer Group (LSE)

#MKS

The general trend is ascendant. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The descendant wave structure is truncated and tested the support level of July 2021.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss is under the local minimum of the descendant structure.

Target levels: 1.8900; 2.2490.