Pivot point: (84.00).
The preferred scenario: Entering long positions around the $84.00 level, with $96.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $83.95, you can enter into short deals with setting $75.70 as an initial price target.< /span>
Comment:
The stock is moving in a general bullish direction, and tested the 20-day moving average around the 76.00 level, and rebounded well from it and was able to breach the key resistance at $84.00, thus forming a new high. Therefore, it is advised to open long positions above the $84.00 level to target the next resistance level 96.00. In the event that prices drop below the level of $ 83.95, the previous scenario will be canceled, and the target in this case would be 75.70.
