Trading idea for AXA (EURONEXT)

AXA (EURONEXT)

#CS

Sector: Insurance. Investments.

The trend is downward. The stock is trading between the 365-period and 135-period moving averages. The upward wave pattern is truncated. Both the Awesome Oscillator and the Stochastic Oscillator show a bearish divergence.

Trading Idea:

Sell upon the formation of a downward wave pattern, where wave (A) breaks through the trendline of the preceding truncated upward pattern.

Place a stop-loss order above the local high of the truncated upward pattern.

Target levels: 42.20; 41.43.