Pivot point: (163.00).
The preferred scenario: Entering long positions above the $163.00 level, with $172.00 as an initial price target.
Alternative scenario: In case the price drops below the $161.00 level, you can enter into short deals with setting $153.00 as an initial price target.
Comment:
The stock is rebounding from the important support level of $163.00, therefore we recommend opening long positions to target the next resistance level of $172.00. In the event of a decline below the important support level of $161.00, it cancels the previous scenario, and it is recommended in this case to open short positions to target the next support level of $153.00.
