Pivot point: (590.00).
Favorite scenario: Entering long positions above the $590.00 level, with $660.00 as the initial price target.
Alternative scenario: In the event the price drops below the $575.00 level, short positions can be entered with $520.00 as an initial price target.
Comment:
The stock is breaching the important resistance level of $590.00. Therefore, we recommend opening long positions to target the next resistance level of $660.00 as an initial price target. In the event of a decline below the important support level of $575.00, it cancels the previous scenario, and it is recommended in this case to open short deals to target the next support level of $520.00 as an initial price target.
