Pivot point: (16.15).
Preferred scenario: Entering long positions above the $16.15 level, with $20.00 as an initial price target.
Alternative scenario: In the event the price drops below the $14.25 level, it is possible to enter into short deals with $10.00 as an initial price target.
Comment:
The stock is testing the very important resistance level of $16.15, which is expected to be breached to the upside, so it is advised to open long positions to target the next resistance level of $20.00. In the event of a decline below the important support level of $14.25, the previous scenario will be cancelled. In this case, it is recommended to open short deals to target the next support level of $10.00.
