Pivot point: (544.00)
The preferred scenario: Entering long positions above the $544.00 level, with $600.00 as the initial price target, followed by $650.00.
Alternative scenario: In the event the price drops below the $539.00 level, you can enter into short deals with $485.00 as an initial price target.
Comment:
The stock was able to breach the upper boundary of the descending price channel that started since February 2021, around the level of 544.00, so it is recommended to open long trades to target the next resistance level of 600.00 as a first target, and in case it breaches upwards, the rise can continue to target the level of $650.00. In the event that prices drop below the level of 539.00, the previous scenario will be canceled, and selling deals can be entered to target the level of $485.00
