Pivot point: (88.00).
Favorite scenario: Entering long positions above $88.00, with $96.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $86.00, short positions can be entered with an initial price target of $84.00.
Comment:
The stock is breaching the pivotal resistance level of $88.00, therefore we recommend opening long positions to target the next resistance level of $96.00. In the event of a decline, the decline below the important support level of $86.00 cancels the previous analysis and it is recommended in this case to open short deals to target the next support level of $84.00.
