Pivot point: (231.00).
The preferred scenario: Entering long positions above the $231.00 level, with $241.85 as an initial price target.
Comment:
The stock is breaching the descending price channel that started in March 2021, and it is breaching the important resistance level of $231.00. Therefore, we recommend opening long positions to target the next resistance level of $241.85. In the event of a decline below the level of $224.00, the previous scenario will be canceled and it is recommended in this case to open short deals to target the $218.00 level.
