Current price: 12.10
Key point: 12.10
Our preferred direction: long positions above the $12.10 level, targeting $14.00, followed by $16.00.
Alternative scenario: stop loss and change direction by breaking the $10.30 level, targeting $9.30 levels.
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The stock is breaching the neckline of an inverted head and shoulders pattern around the important resistance level of $12.10, therefore we recommend opening long positions to target the next resistance level of $14.00 followed by $16.00. In the event of a decline below the important support level of $10.30, the previous analysis will be cancelled, and the first support in this case will become $9.30.
