Pivot point: (125.00) .
The preferred scenario: Entering long positions above $125.00, with $132.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $123.00, you can enter into short deals with $115.00 as an initial price target.
Comment:
The stock is moving in an ascending price channel that started since June 2020, and is currently bouncing from the bottom border of this channel around the important support level 125.00, in addition to the RSI signal that supports the positive outlook, so it is recommended to open long positions to target the next resistance level of $132.00. In the event of a decline below the level of 123.00, the previous scenario will be canceled, and in this case it is recommended to open short positions to target the level of $115.00 again.
