Key point: 203.00
Our preferred direction: long positions above the $203.00 level, targeting $250.00, followed by $280.00.
Alternative scenario: stop loss and change direction by breaking the $195.00 level, targeting $160.00 levels.
Comment
The stock is moving above the ascending trend line that started since November 2021, and rebounding from the important support level of $203.00, therefore we recommend opening long positions to target the next resistance levels of $250.00, followed by $280.00. In the event of a decline below the level of $195.00, the previous analysis will be canceled and it will become the first bearish target at the level of $160.00.
