Pivot Point: (480.00).
Favorite scenario: Entering long positions above $480.00, with $540.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $440.00, short positions can be entered with setting $420.00 as an initial price target.
Comment:
The stock is heading to test the next resistance level of 480.00, which in case it is breached, we recommend opening long positions to target the next resistance level of $540.00. In the event of a decline below the important support level of $440.00, the previous analysis will be cancelled. In this case, we recommend opening short positions to target the next support level of $420.00.
