Pivot point: (46.00).
Favorite scenario: Entering short positions below the $46.00 level, with $42.00 as an initial price target.
Alternative scenario: If the price rises above the $46.50 level, long positions can be entered with $50.00 as an initial price target.
Comment:
The stock is breaking the ascending trend line that started since July 2021, around the level of $46.00, therefore we recommend opening short positions to target the next support level of $42.00. In the event of a rise above $46.50, the previous scenario will be canceled and it is recommended in this case to open long positions to target $50.00.
