Pivot point: (270.00).
Favorite scenario: Entering long positions above the $270.00 level, with $320.00 as the initial price target.
Alternative scenario: In the event the price drops below the $240.00 level, short positions can be entered with $220.00 as an initial price target.
Comment:
The stock is heading to test the next resistance level of $270.00. In the event of a breach of this level to the upside, it is advised to open long positions to target the next resistance level of $320.00. In the event of a decline below the level of $240.00, the previous analysis will be cancelled. In this case, we recommend opening short positions to target the next support level of $220.00.
