Pivot Point: (50.00).
Favorite scenario: Entering long positions above the $50.00 level, with $56.00 as the initial price target.
Alternative scenario: In case the price drops below the level of $49.40, you can enter into short positions with $46.10 as an initial price target.
Comment:
The stock is breaching the important resistance level of $50.00, therefore we recommend opening long positions to target the next resistance level of $56.00. In the event of a decline below the important support level of $49.40, the previous scenario is canceled and it is recommended in this case to open short deals to target the next support level of $46.10.
