Pivot point: (78.00).
The preferred scenario: Entering long positions above the level of $78.00, with $92.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $76.00, you can enter into short deals with $68.00 as an initial price target.
Comment:
The stock is moving in an ascending price channel that started since July 2021, and rebounded from the lower limit of this channel around the level of $78.00, therefore we recommend opening long positions to target the resistance level Next is $92.00. In the event of a decline below the level of $76.00, the previous scenario will be cancelled. In this case, we recommend opening short deals to target the next support level of $68.00.
