Pivot point: (260.00).
Favorite scenario: Entering long positions above the $260.00 level, with $286.00 as the initial price target.
Alternative scenario: If the price drops below the $250.00 level, short positions can be entered with $240.00 as an initial price target.
Comment:
The stock is breaching the descending trend line that started since November 2021 around the important resistance level of $260.00, therefore we recommend opening long positions to target the next resistance level of $286.00 . In the event of a decline below the level of $250.00, the previous scenario will be canceled and it is recommended in this case to open short positions to target the next support level of $240.00.
