Pivot point: (411.00).
Preferred scenario: Entering long positions above the $411.00 level, with $480.00 as an initial price target.
Alternative scenario: In the event the price drops below the $370.00 level, you can enter into short deals with $277.00 as an initial price target.
Comment:
The stock is moving above an ascending trend line that started since May 2021, and changing the upward angle by moving above another ascending trend line that started in July 2021. It is currently testing the minor resistance level of $411.00, so we recommend buying in case this level is exceeded to the upside to target the next resistance level of $480.00. In the event of a decline below the level of $370.00, it cancels the previous scenario, and in this case it is recommended to open short positions to target the next support level of $277.00.
