Pivot point: (278.00).
The preferred scenario: entering short positions below the $278.00 level, with $272.00 as an initial price target.
Alternative scenario: In the event the price rises above the $280.00 level, you can enter into buying deals with $285.00 as an initial price target.
Comment:
The stock is moving in a descending price channel that started since the beginning of the month, and it broke the important support level of $278.00, so we recommend opening short positions to target the next support level of $272.00. In the event of a rise above the level of $280.00, the previous scenario will be canceled, and in this case it is recommended to enter long positions to target $285.00.
