Current price: 89.87
Key point: 85.00
Our preferred direction: buying positions above the $58.00 level, targeting $102.00, followed by $122.00.
Alternative scenario: stop loss and change direction by breaking $80.00, targeting $71.00.
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The stock moves between the two sides of the bearish price channel that started since November 2021, and bounces from the lower border of this channel around the raw support level at $85.00, and therefore we recommend opening buying deals to target the next resistance level at $102.00, followed by $122.00. In the event of a decline below the important support level of $80.00, the previous analysis will be canceled and the first support in this case will be at $71.00.
