Pivot point: (88.77).
The preferred scenario: Entering long positions at the highest level of $88.77, with $91.27 as an initial price target, followed by $95.96 as a second target.
Alternative scenario: In the event the price drops below the level of $86.60, you can enter into short deals with $79.00 as an initial price target.
Comment:
The stock was able to breach the important resistance level of $88.77 with a bullish price gap, and the RSI also witnessed a breach of the 50 line. Therefore, we recommend opening long positions to target the next resistance level of $91.27, followed by $95.96. In the event of a decline below the level of $86.60, the positive scenario is canceled and it is recommended in this case to open short deals to target the next support level of $79.00.
