The trading plan was drawn up using the modified wave analysis for the Smart Trading trading system.
Ameren Corp. (NYSE)
#AEE
The overall trend is upward. The stock trades in a range of 365 and 135 moving averages. The downtrend pattern ended with the breakout of the inclined channel (aC), the breakout of the top (aC) formed an upward wave pattern within the general upward trend. Awesome Oscillator shows a Bearish divergence, while the moving averages of Stochastic Oscillator leave the oversold zone, directed upwards.
Trading idea:
Buy on the formation of an upward wave pattern - on the breakout of 79.61.
Stop Loss - 76.28.
Target levels - 85.44; 87.12.
Featured expert at Grand Capital - Evgeny Boguraev.