Pivot point: (158.50).
Preferred scenario: Entering long positions above 158.50, with $180.00 as an initial price target.
Alternative scenario: In the event the price drops below the $151.00 level, you can enter into short deals with $139.00 as an initial price target.
Comment:
The stock is breaking the descending trend line that started since June 2021, around the $158.50 resistance level, so the stock is most likely to continue rising to target the next resistance level of $180.00. In the event of a decline below the important support level of $151.00, it cancels the previous scenario and is advised in this case to open short positions to target the next support level of $139.00.
