Pivot point: (12.34).
The preferred scenario: Entering long positions above $12.34, with $14.90 as an initial price target.
Alternative scenario: In the event the price drops below the $11.63 level, you can enter into short deals with $11.20 as an initial price target.
Comment:
The stock is breaching the descending trend line that started since July 2021, therefore we recommend opening long positions to target the next resistance level of $14.90. In the event of a decline below the level of $11.63, the previous scenario will be canceled and it is advised in this case to open short deals to target the next support level 11.20.
