Pivot point: (52.00).
Favorite scenario: Entering long positions above the $52.00 level, with $56.00 as the initial price target.
Alternative scenario: If the price drops below the $51.60 level, short positions can be entered with $50.00 as an initial price target.
Comment:
The stock is breaching the important resistance level of $52.00, therefore we recommend opening long positions to target the next resistance level of $56.00. In the event of a decline below the important support level of $51.60, the previous scenario is canceled and it is recommended in this case to open short deals to target the next support level of $50.00.
