The pivot point: (3.85).
The preferred scenario: Entering long positions in case the price breaks through the levels of $4.30, with setting the $5.50 as an initial price target.
Alternative scenario: In case the price drops below the $3.85 levels, you can enter into short deals with $2.50 as an initial price target.
Comment: The stock is moving in a descending price channel starting from April 2021, reaching the important support level 3.85 near the bottom border of the price channel and witnessed a rebound from these levels, so the breach of the next resistance level 4.30 suggests the stock will rise to the level of 5.50, while the decline is below the main support level. 3.85 again requires a stop loss.
