Pivot point: (348.00).
Favorite scenario: Entering long positions above $348.00, with $400.00 as initial price target.
Alternative scenario: In the event the price drops below the level of $340.00, short positions can be entered with $320.00 as an initial price target.
Comment:
The stock is rebounding from the main support level of $348.00, therefore we recommend opening long positions to target the next resistance level of $400.00. In the event of a decline below the important support level of $340.00, the previous analysis will be canceled and in this case it is advised to open short deals to target the next support level $320.00.
