Pivot point: (25.40).
Preferred scenario: Entering long positions above 25.40, with $26.50 as an initial price target.
Alternative scenario: In the event the price drops below the $25.35 level, you can enter into short deals with $24.35 as an initial price target.
Comment:
The stock is moving in an ascending price channel that started since September 2021 and is bouncing around the 20-hour moving average and the ascending trend line at the level of $25.40. Therefore, we recommend opening long positions to target the next resistance level of $26.50. In the event of a decline below the level of 25.35, it cancels the previous scenario and is advised in this case to open short positions to target 24.35 dollars.
