Current price: 5.50
Key point: 4.96
Our preferred direction: long positions above the $4.96 level, targeting $7.00, followed by $8.00.
Alternative scenario: stop loss and change direction by breaking the $4.66 level, targeting $3.40 levels.
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The stock is breaching the important resistance level of $4.96, therefore we recommend opening long positions to target the important resistance level of $7.00, followed by $8.00. This scenario is supported by both the moving averages and RSI indicators, but in the event of a decline below the important support level of $4.66, the previous analysis will be canceled and the first support in this case will be $3.40
