Pivot Point: (249.50).
Favorite scenario: Entering long positions above $249.50, with $264.00 as an initial price target.
Alternative scenario: In case the price drops below the level of $249.00, you can enter into short positions with $243.00 as an initial price target.
Comment:
The stock is moving above the ascending trend line that started since July 2021, and is bouncing back from the important support level of $149.50. Therefore, we recommend opening long positions to target the next resistance level of $264.00, but in the event of a decline below $249.00, the previous analysis will be cancelled. In this case, it is recommended to open short positions to target the next support level of $243.00.
