Pivot point: (388.00).
The preferred scenario: Entering long positions above the $388.00 level, with $400.00 as an initial price target, followed by $420.00 as a second target.< /span>
Alternative scenario: In the event the price drops below the $380.00 level, you can enter into short deals with $360.00 as an initial price target.
Comment:
The stock is moving in an ascending price channel that started since October 2020, and the stock was able to breach the important resistance level 388.00, so it is likely to rise to target the next resistance level of $400.00 as an initial price target, followed by the 420.00 level as a second target. While in the event of a decline below the level of 380.00, the previous scenario will be canceled, and in this case it is recommended to open a short deal to target the level of 360.00.
