Pivot point: (100.00).
Favorite scenario: Entering long positions above $100.00, with $140.00 as initial price target.
Alternative scenario: In the event the price drops below the level of $93.00, short positions can be entered with $80.00 as an initial price target.
Comment:
The stock is trading within the descending price channel that started since October 2021, and rebounds from the important support level of $100.00, and therefore we recommend opening long positions to target the resistance level. Next is $140.00. In the event of a decline below the support level of $93.00, the previous analysis will be canceled and it is recommended in this case to open short deals to target the next support level $80.00.
