Pivot point: (104.70).
The preferred scenario: Entering long positions above the $104.70 level, with $110.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $102.00, you can enter into short deals with setting $98.60 as an initial price target.
Comment:
The stock has been moving in a bullish direction in the medium and short term since last June, and is testing the important resistance level of $104.70, so it is most likely to break the resistance to the upside and we recommend opening long positions in case it rises above $104.70 to target the next resistance level of $110.00. In the event of a decline below the level of 102.00 dollars, it cancels the previous scenario and is advised in this case to open short positions to target the next support level of 98.60 dollars.
