Pivot point: (124.00).
Favorite scenario: Entering long positions above the level of $124.00, with $132.00 as an initial price target.
Alternative scenario: In the event the price drops below the $120.00 level, short positions can be entered with $110.00 as an initial price target.
Comment:
The stock is rebounding from the important support level of $124.00, therefore we recommend opening long positions to target the next resistance level of $132.00. In the event of a decline below the $120.00 level, the previous scenario will be canceled and the first support in this case will be $110.00.
