Pivot point: (55.95)
The preferred scenario: Entering long positions above 55.95, with $59.35 as an initial price target.
Alternative scenario: In the event the price drops below the level of 55.13 dollars, it is possible to enter into short deals with setting 52.70 dollars as an initial price target.
Comment:
The stock is rebounding from the rising trend line that started since May 2021, around the important support level 55.95, so it is advised to open long positions to target the next resistance level of $59.35. In the event of a decline below 55.13, it cancels the previous scenario and is advised in this case to open short deals to target the next support level of $52.70.
