Current price: 8.80
Key point: 8.00
Our favorite direction: long positions above the $8.00 level, targeting $12.00, followed by $19.00.
Alternative scenario: stop loss and change direction by breaking $7.11, targeting $5.20.
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The stock breached the bearish trend line that started since February 2022 around the important resistance level of $8.00, therefore we recommend opening buy deals to target the next resistance level of $12.00, followed by $19.00. In the event of a decline below the important support level of $7.11, the previous analysis will be canceled and the first support in this case will be $5.20.
