Pivot point: (70.55).
The preferred scenario: Entering long positions above the level of $70.55, with $80.00 as an initial price target.
Alternative scenario: In the event the price drops below the $69.00 level, you can enter into short deals with $61.85 as an initial price target.
Comment:
The stock is moving above an ascending trend line that started since December 2020, and managed to rise above the main and pivotal resistance level of $70.55, so it is recommended to buy above $70.55 to target the next resistance level of $80.00. In the event of a decline below the support level of 69.00, it cancels the previous scenario, and in this case it is recommended to open short positions to target the next support level of 61.85 dollars.
