Current price: 7.35
Key point: 6.35
Our preferred direction: long positions above the $6.35 level, targeting $9.27, followed by $12.00.
Alternative scenario: stop loss and change direction by breaking the $6.00 level, targeting $4.00 levels.
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The stock is breaching the descending price channel that started since March 2022, around the important resistance level 6.35, therefore we recommend opening long positions to target the next resistance level of $9.27 followed by $12.00. In the event of a decline below the level of $ 6.00, the previous analysis will be canceled and the first support in this case will become $4.00.
