Pivot point: (240.70).
Favorite scenario: Entering long positions above the level of $240.70, with $260.00 as the initial price target.
Alternative scenario: In the event the price drops below the level of $236.00, short positions can be entered with an initial price target of $225.00.
Comment:
The stock is breaching the important resistance level of $240.70. Therefore, we recommend opening long positions to target the next resistance level of $260.00. In the event of a decline below the level of $236.00, the previous scenario will be canceled and it is advised in this case to open short deals to target the next support level of $225.00.
