Trade Idea for Ecolab Inc. (NYSE)

Ecolab Inc. (NYSE)

#ECL

The trend is bullish. The bearish wave structure is truncated. The stock is trading within the range of the 365 and 135 EMAs. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy upon the formation of a new bullish wave structure, where wave (A) breaks above the descending channel of the truncated bearish structure.

Stop Loss – 274.67.

Target levels – 288.50; 307.50.