Key point: 200.00
Our preferred direction: long positions above the $200.00 level, targeting $220.00, followed by $230.00.
Alternative scenario: stop loss and change direction by breaking the $198.00 level, targeting $185.00 levels.
Comment
The stock has breached the descending trend line that started since November 2021, and it also breaches the important resistance level of $200.00, therefore, it is recommended to open long positions to target the next resistance level of $220.00, followed by the next resistance level of $230.00. In the event of a decline below the important support level of $198.00, the previous analysis will be canceled and the first support in this case will be $185.00.
