Pivot point: (52.65).
Preferred scenario: Entering long positions above the $52.65 level, with $56.00 as an initial price target.
Alternative scenario: In the event the price drops below the $51.70 level, you can enter into short deals with $47.30 as an initial price target.
Comment:
The stock was able to breach the key resistance level of $52.65, in addition to the price rise above the 20-day moving average, also the RSI 50 line breached to the upside that supports the positive scenario. Therefore, we recommend opening long positions to target the next resistance level of $56.00. In the event of a decline below the level of 51.70 dollars, the positive scenario is canceled, and it is recommended in this case to open short deals to target the level of 47.30 dollars.
