Pivot point: (126.85).
The preferred scenario: Entering long positions above the $126.85 level, with $140.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $126.00, you can enter into short deals with $120.00 as an initial price target.
Comment:
The stock is rebounding from the key support level of $126.85 that it tested for the first time since February 2021, in addition to the presence of a buy signal on the RSI indicator, so we recommend opening long positions above this level to target the next resistance level of $140.00. In the event of a decline below the level of 126.00, the positive scenario will be canceled, and it is recommended in this case to open short positions to target the next support level of $120.00.
