Pivot point: (42.13).
The preferred scenario: Entering long positions above the $42.13 level, with $48.15 as an initial price target.
Alternative scenario: In the event the price drops below the $37.87 level, you can enter into short deals with $34.00 as an initial price target.
Comment:
The stock is testing the descending trend line that started since last August, and in case it breaks it around 42.13, we recommend opening long positions to target the next resistance level of $48.15. In the event of a decline below the important support level of $37.87, the previous scenario is canceled, and it is recommended in this case to open short deals to target the next support level of $34.00.
