Pivot point: (43.35).
Favorite scenario: Entering long positions above $43.35, with $49.80 as an initial price target.
Alternative scenario: In the event the price drops below the $42.65 level, short positions can be entered with $40.00 as an initial price target.
Comment:
The stock is still trading above the ascending trend line that started since March 2020, and is breaching the important resistance level of $43.35, therefore, we recommend opening long positions to target the level of The next resistance is $49.80. In the event of a decline below the important support level of $42.65, the previous scenario will be cancelled. In this case, we recommend opening short deals to target the next support level of $40.00.
