Current price: 5.01
Key point: 4.77
Our preferred direction: long positions above the $4.77 level, targeting $6.50, followed by $7.50.
Alternative scenario: stop loss and change direction by breaking the $4.30 level, targeting $3.30 levels.
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The stock is moving between the borders of the ascending price channel that started since June 2022, and rebounding from the rising trend line around the $4.77 level, therefore we recommend opening long positions above this level to target the next resistance level of $6.50, followed by $7.50. In the event of a decline below the $4.30 level, the previous analysis will be canceled and the first support in this case will be $3.30.
