Pivot point: (94.30).
The preferred scenario: Entering long positions above the level of $94.30, with $104.00 as an initial price target.
Alternative scenario: In the event the price drops below the $90.70 level, it is possible to enter long positions with $80.00 as an initial price target.
Comment:
The stock is still trading above the bullish trend line that started since March 2020, and rebounded from it around the support level 93.30, also, the RSI reached the oversold area, which supports the positive view, so it is advised to enter long positions above the 94.30 level to target the resistance level The next 104.00, but in the event of a decline below the level of 90.70, the previous scenario is canceled and in this case it is recommended to open short deals to target the level of $80.00.
