Pivot point: (81.26).
Favorite scenario: Entering long positions above $81.26, with $88.50 as an initial price target.
Alternative scenario: In the event the price drops below the level of $80.65, short positions can be entered with an initial price target of $77.30.
Comment:
The stock is moving in the ascending price channel that started in March 2021, and rebounding around the ascending trend line around the level of $81.26, therefore, we recommend opening long positions to target the level of The next resistance is $88.50. In the event of a decline below the level of $80.65, the previous scenario will be canceled and it is recommended in this case to open short deals to target the next support level of $77.30.
