Pivot point: (51.30 ).
The preferred scenario: Entering long positions above the $51.30 level, with $62.10 as an initial price target.
Alternative scenario: In the event the price drops below the $48.40 level, you can enter into short deals with $39.88 as an initial price target.
Comment:
The stock is moving above an ascending trend line that started since March 2020, and is testing the important and pivotal support level of $51.30, so it is recommended to open long positions above the level of $51.30 to target the next resistance level of $62.10. In the event of a decline below the support level of $48.40, it cancels the previous scenario, and in this case it is recommended to open short deals to target the next support level of $39.88.
