Current price: 8.06
Key point: 7.35
Our preferred direction: long positions above the $7.35 level, targeting $10.18, followed by $14.00.
Alternative scenario: stop loss and change direction by breaking the $6.90 level, targeting $6.00 levels.
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The stock was able to breach the descending price channel that started since March 2021, around the important resistance level of $7.35. Therefore, we recommend opening long positions to target the next resistance level of $10.18, followed by $14.00. In the event of a decline below the important support level of $6.90, the previous analysis will be canceled and the first support in this case will become $6.00.
