Pivot point: (248.00).
Preferred Scenario: Entering long positions above 248.00, with $266.90 as an initial price target.
Alternative scenario: In case the price drops below the level of $240.00, you can enter into short deals with setting $226.00 as an initial price target.
Comment:
The stock is moving above the ascending trend line that started since March 2020, and it breaches the important resistance level of $248.00, so we recommend opening long positions to target the next resistance level of $266.00. In the event of a decline below the next support level, $240.00. It cancels the previous scenario and in this case is advised to open short positions to target the next support level of $226.00.
