Trading ideas for PJSC Sberbank 07.02.2020

Today, Sberbank will publish its RAS financial statements for January 2020. If the report is positive, the overall upward movement will continue.

On the chart, the support level of 251.38 is holding back sellers. A descending truncated pattern has formed. Complete it with the formation of an ascending wave pattern, which will break through the inclined channel of the descending one.

Trading recommendations:

Buy while an ascending wave pattern is forming, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop loss under the support level of 251.38.

Target levels: 261.58; 270.70.