Pivot Point: (197.20).
Favorite scenario: Entering long positions above $197.20, with $220.00 as an initial price target.
Alternative scenario: In case the price drops below the level of $191.00, short positions can be entered with setting $186.00 as an initial price target.
Comment:
The stock is moving above the ascending trend line that started since March 2020, and is bouncing back from the important support level 197.20. Therefore, we recommend opening long positions to target the next resistance level of $220.00, but in the event of a decline below the level of $191.00, the previous analysis will be canceled and advised In this case, open short positions to target the next support level of $186.00.
