Current price: 73.16
Key point: 72.27
Our preferred direction: long positions above the level of 72.27 dollars, targeting levels of 77.20 dollars, followed by 80.00 dollars.
Alternative scenario: stop loss and change direction by breaking the level of 69.60 dollars, targeting 65.85 dollars.
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The stock breached the main resistance level of 72.27 dollars, therefore we recommend opening long positions to target the next resistance level of 77.20 dollars, followed by 80.00 dollars. This scenario favors the installation of Elliott waves in the current period, in addition to the positive sign on the relative strength index. In the event of a decline below the level of $69.60, the previous analysis will be cancelled, and the first drop will become $65.85 in this case.
