Current price: 91.45
Key point: 92.15
Our preferred direction: short positions below the $92.15 level, targeting $87.00, followed by $84.00.
Alternative scenario: stop loss and change direction by breaching the $94.00 level, targeting $96.00 levels.
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The stock rebounded from the important resistance level of $92.15, which is also around the 20-day moving average, and therefore we recommend opening short positions to target the next support level of $87.00, followed by the level of $84.00. In the event that it rises above the important resistance level of $49.00, the negative scenario will be cancelled, and the stock's first target will be the level of $96.00.
