Pivot point: (261.00).
Favorite scenario: Entering long positions above the $261.00 level, with $290.00 as the initial price target.
Alternative scenario: If the price drops below the $253.00 level, short positions can be entered with $235.00 as an initial price target.
Comment:
The stock broke the major resistance level of $261.00 and is likely to continue rising to target the next resistance level of $290.00. In the event of a decline below the important support level of $253.00, the previous analysis will be cancelled. In this case, we recommend opening short deals to target the next support level of $235.00.
