Pivot point: (173.00).
The preferred scenario: Entering long positions above the $173.00 level, with $190.00 as an initial price target.
Alternative scenario: In the event the price drops below the $170.00 level, you can enter into short deals with $161.00 as an initial price target.
Comment:
The stock is moving above an ascending trend line that started since October 2020, and it managed to breach the main and pivotal resistance level of $173.00, therefore we recommend opening long positions to target the next resistance level of $190.00. But in the event of a decline below the important support level of $170.00, it cancels the previous scenario, and it is recommended in this case to open short positions to target the next support level of $161.00.
