Pivot point: (170.00).
Favorite scenario: Entering short positions below the $170.00 level, with $155.00 as an initial price target.
Alternative scenario: In the event that the price rises above the $175.00 level, buying deals can be entered with placing $190.00 as an initial price target.
Comment:
The stock is breaking the important support level of $170.00, and therefore it is recommended to open short positions to target the next support level of $155.00. In the event of a rise above $175.00, the previous scenario will be canceled and it is recommended in this case to open long positions to target the level of $190.00.
