Pivot point: (13.00).
Preferred scenario: Entering long positions above the $13.00 level, with $17.00 as the initial price target.
Alternative scenario: In the event the price drops below $12.60, short positions can be entered with $11.00 as an initial price target.
Comment:
The stock is rebounding from the important support level of $13.00, therefore we recommend opening long positions to target the next resistance level of $17.00. In the event of a decline below the important support level of $12.60, it cancels the previous scenario, and it is recommended in this case to open short positions to target the next support level of $11.00.
