Pivot point: (250.00).
Preferred scenario: Entering long positions above the $250.00 level, with $280.00 as the initial price target.
Alternative scenario: In the event the price drops below the level of $245.00, it is possible to enter into buying deals with setting $220.00 as an initial price target.
Comment:
The stock was able to breach the descending trend line that started since February 2021, around the key resistance level of 250.00. The rise is likely to continue to retest the next resistance level of $280.00. In the event of a decline below the important support level of $245.00, it cancels the positive scenario, and in this case it is recommended to open short positions to target the next support level of $220.00.
