Pivot point: (45.40).
Favorite scenario: Entering long positions above $45.40, with $56.00 as an initial price target.
Alternative scenario: In the event the price drops below the $44.00 level, short positions can be entered with $40.00 as an initial price target.
Comment:
The stock is moving above the rising trend line that started since March 2021, and rebounding from the important support level of $45.40, therefore we recommend opening long positions to target the next resistance level. 56.00 dollars, but in the event of a decline below the level of 44.00 dollars, the previous analysis will be canceled and it is recommended in this case to open short deals to target the next support level 40.00 dollars.
