Pivot point: (41.00).
Preferred scenario: Entering long positions above the $41.00 level, with $43.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $40.50, you can enter into short deals with $38.50 as an initial price target.
Comment:
The stock managed to breach the important resistance level 41.00, and traded above the 20-day moving average. Therefore, it is most likely to continue rising, so it is advised to open long positions to target the next major resistance level of $43.00. But in the event that prices drop below the level of $ 40.50, the previous scenario is canceled, and in this case it is recommended to open short deals to target the next support level of $ 38.50.
