Pivot point: (86.25).
The preferred scenario: Entering long positions around the $86.25 level, with $100.00 as an initial price target.
Alternative scenario: In the event the price drops below the level of $86.00, you can enter into short deals with setting $82.00 as an initial price target.
Comment:
The stock is moving within an ascending price channel that started in January 2021, and is bouncing from the rising trend line around the level of $86.25, so it is most likely to rise towards the channel line around the level of 100.0, so it is advised to open long positions in this case. In the event of a decline below $86.00, the previous scenario will be canceled and a decline is likely towards the level of $82.00, so it is advised to open short positions.
