Pivot point: (57.10).
Favorite scenario: Entering long positions above 57.10, with $60.80 as an initial price target.
Alternative scenario: In case the price drops below the level of 56.60 dollars, it is possible to enter into short deals with setting 55.10 dollars as an initial price target.
Comment:
The stock breached the transverse range around the important resistance level 56.60, so it is advised to open long trades to target the next resistance level of $60.80, but in the event of a decline below the important support level 56.60 again, it cancels the previous scenario and is advised in this case to open selling deals to target the next support level 55.10.
