Key point: 481.00
Our preferred direction: long positions above the level of $481.00, targeting $520.00 followed by $560.00.
Alternative scenario: stop loss and change direction by breaking the $440.00 level, targeting $400.00 levels.
Comment
The stock is moving within the ascending price channel that started in March 2020, and is bouncing from the rising trend line and the important support level of $481.00, therefore we recommend opening long positions to target the next resistance level of $520.00 followed by $560.00. In the event of a decline below the level of $440.00, the previous analysis will be canceled and the first support in this case will become $400.00.
