Pivot point: (84.00)
The preferred scenario: Entering long positions above the $48.00 level, with $92.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $81.45, you can enter into short deals with setting $74.80 as an initial price target.
Comment:
The stock is moving in a bullish price channel that started since October 2020, and is currently rebounding from the bottom border of this channel around the important support level 84.00, in addition to the RSI reaching the oversold area, so it is recommended to open long positions to target the next resistance level of $92.00. In the event of a decline below the 81.45 level, the previous scenario will be canceled, and in this case it is recommended to open short positions to target the level of $74.80 again.
