Current price: 53.11
Key point: 52.00
Our preferred direction: long positions above the $52.00 level, targeting $56.85, followed by $60.00.
Alternative scenario: stop loss and change direction by breaking the $48.00 level, targeting $44.00 levels.
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The stock is moving in an ascending price channel that started since May 2022, and is rebounding from the important support level of $52.00, therefore we recommend opening long positions to target the next resistance level of $56.85, followed by $60.00. In the event of a decline below the $48.00 level, the previous analysis will be cancelled, and the first support in this case will be $44.00.
