Pivot point: (348.10).
Preferred scenario: Entering long positions above $348.10, with $400.00 as an initial price target.
Alternative scenario: In the event the price drops below the $341.00 level, you can enter into short deals with $316.00 as an initial price target.
Comment:
The stock is breaching the important resistance level of $348.10 forming a new higher, therefore we recommend opening long positions to target the next resistance level of $400.00. In the event of a decline below the important support level of $341.00, the previous scenario is canceled and it is advised in this case to open selling positions to target the next support level of $316.00.
