Pivot point: (45.60).
Preferred scenario: Entering long positions above 45.60, with $47.25 as an initial price target.
Alternative scenario: In the event the price drops below the $45.16 level, you can enter into short deals with $43.85 as an initial price target.
Comment:
The stock reached the upper limit of the Bollinger bands around the 47.00 level and retreated again to find the 20 EMA acting as support, therefore we recommend opening long positions to target the next resistance level of 47.25 dollars. In the event of a decline below the support level of $45.16, the previous scenario is canceled and it is recommended in this case to open short deals to target the next support level of $43.85.
