Pivot point: (240.00).
Preferred scenario: Entering long positions above the $240.00 level, with $270.00 as the initial price target.
Alternative scenario: In the event the price drops below the $237.00 level, short positions can be entered with $226.00 as an initial price target.
Comment:
The stock is rebounding from the important support level of $240.00, therefore we recommend opening long positions to target the next resistance level of $270.00. In the event of a decline below the important support level of $237.00, the previous analysis will be canceled and it is advised in this case to open short deals to target the next support level of $226.00.
