Pivot point: (48.00).
The preferred scenario: Entering long positions above the $48.00 level, with $56.00 as an initial price target.
Alternative scenario: In the event the price drops below the $47.30 level, you can enter into short deals with $41.50 as an initial price target.
Comment:
The stock is rebounding from the ascending trend line that started since October 2020, and managed to breach the important resistance level of $48.00 forming a new top, so we recommend opening long positions from the current levels to target the next resistance level of $56.00. But in the event that prices drop below the level of 47.30 dollars, the previous scenario is canceled, and in this case it is recommended to open short deals to target the next support level of 41.50 dollars.
