Pivot point: (270.00).
Favorite scenario: Entering long positions above 270.00, with $296.00 as an initial price target.
Alternative scenario: In case the price drops below the level of $255.00, you can enter into short deals with $235.00 as an initial price target.
Comment:
The stock is moving above the rising trend line that started since March 2021, and rebounding from the important support level of $255.00, so it is advised to open long positions above $270.00 to target the next resistance level of $296.00. In the event of a decline below the important support level of $255.00, the previous scenario will be canceled, and it is recommended in this case to open short positions to target the next support level of $235.00.
