Pivot point: (48.60).
Favorite scenario: Entering long positions above $48.60, with $52.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $47.80, you can enter into short positions with $44.50 as an initial price target.
Comment:
The stock is still moving above the ascending trend line that started in July 2021, and is breaching the important resistance level of $48.60, therefore we recommend opening long positions to target the level of The next resistance is $52.00. In the event of a decline below the important support level of $47.80, the previous scenario is canceled, and it is recommended in this case to open short deals to target the next support level of $44.50.
