Pivot point: (250.00).
Preferred scenario: Entering long positions above the $250.00 level, with $260.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $244.00, you can enter into short deals with $236.00 as an initial price target.
Comment:
The stock is moving in an upward general direction, and made a new higher by breaching the important resistance level of $250.00, therefore we recommend opening long positions to target the next resistance level of $260.00 . In the event of a decline below the important support level of $244.00, it cancels the previous scenario, and it is recommended in this case to open short positions to target the next support level of $236.00.
Point and Figure Graph
The point and figure graph supports the previous scenario by forming a penetrating double top pattern
