Pivot point: (57.70).
The preferred scenario: entering long positions above the level of $57.70, with $59.20 as an initial price target.
Comment:
The stock is testing the important resistance level of $57.70, which in case it is breached, we recommend opening long positions to target the next resistance level of $59.20, and this scenario supports the positive signal that appeared on the relative strength indicator. In the event of a decline below the important support level of $57.00, it cancels the previous scenario and in this case it is advised to open short positions to target the next support level of $56.00.
