Pivot point: (44.00).
Favorite scenario: Entering long positions above $44.00, with $50.00 as initial price target.
Alternative scenario: In the event the price drops below the $42.00 level, short positions can be entered with $40.00 as an initial price target.
Comment:
The stock is moving above the rising trend line that started since July 2021, and rebounding from the important support level of $44.00, therefore we recommend opening long positions to target the next resistance level 50.00 dollar. In the event of a decline below the level of $42.00, the previous scenario will be canceled and it is recommended in this case to open short positions to target $40.00.
