Pivot point: (76.20).
The preferred scenario: Entering long positions above $76.20, with $83.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $73.88, you can enter into short deals with $71.35 as an initial price target.
Comment:
The stock has breached the descending channel that started since April 2021, and is testing the important resistance level of $76.20, so it is advised to open long positions to target the level of $83.00. In the event of a decline below $73.88, the previous scenario will be canceled, and it is recommended in this case to open short deals to target the level of $71.35.
