Pivot point: (31.00).
Favorite scenario: Entering long positions above the $31.00 level, with $34.00 as the initial price target.
Alternative scenario: In the event the price drops below the $30.21 level, short positions can be entered with $27.85 as an initial price target.
Comment:
The stock is breaching the important resistance level of $31.00, therefore we recommend opening long positions to target the next resistance level of $34.00. In the event of a decline below the important support level of $30.21, the previous scenario is canceled and it is recommended in this case to open short deals to target the next support level of $27.85.
