Pivot point: (208.00).
Favorite scenario: Entering long positions above $208.00, with $240.00 as the initial price target.
Alternative scenario: In the event the price drops below the $203.00 level, short positions can be entered with $185.00 as an initial price target.
Comment:
The stock is breaching the descending trend line that started since November 2021, around the important resistance level 208.00, therefore we recommend opening long positions to target the next resistance level 240.00 dollar. In the event of a decline below the important support level of $203.00, the previous analysis will be cancelled. In this case, we recommend opening short deals to target the next support level of $185.00.
