Pivot point: (185.45).
The preferred scenario: Entering long positions above the level of $185.45, with $240.00 as an initial price target.
Alternative scenario: In the event the price drops below the $175.00 level, you can enter into short deals with $157.00 as an initial price target.
Comment:
The stock is moving between the boundaries of the descending price channel that started since August 2021, around the important support level of $185.45, and therefore we recommend opening long positions to target the next resistance level. $240.00. In the event of a decline below the important support level of $175.00, the previous scenario is canceled and it is recommended in this case to open short positions to target the next support level of $157.00.
