Trading idea for Novartis (SIX)

Novartis (SIX)

#NOVN

The trend is bearish. The stock is trading between the 365 EMA and the 135 EMA. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions. The bullish wave structure concluded with a breakout of the trend channel. A "Boguraev Matryoshka" reversal wave pattern is forming.

Trading idea:

Sell on a breakout below 119.36.

Stop Loss – 120.08.

Target levels – 118.55; 117.26.