Pivot point: (138.60).
Preferred scenario: Entering long positions above 138.00, with $147.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $138.00, you can enter into short deals with $132.00 as an initial price target.
Comment:
The stock rebounded from the important support level of $138.60. Therefore, we recommend opening long positions to target the next resistance level of $147.00. In the event of a decline below the important support level 138.00 again, a stop loss is required.
