Current price: 13.09
Key point: 12.40
Our preferred direction: long positions above $12.40, targeting $13.70, followed by $14.70.
Alternative scenario: stop loss and change direction by breaking $12.11 with targeting $11.00.
comment
The stock is moving in an ascending price channel that started since May 2022, and is rebounding from the important support level of $12.40, therefore we recommend opening long positions to target the next resistance level of $13.70, followed by $14.70. In the event of a decline below the important support level of $12.11, the previous analysis will be cancelled, and the first support in this case will be $11.00.
