Current price is $168.86 and 15% above its 40 week moving average. There are a number of reasons why one should look to secure profits on long positions here.
The weekly choppiness index at 33 suggests that a bout of panic buying or short covering has recently taken place. Furthermore, the MACD-V level of +224 stands at a multi-year high. The Fibonacci 78.6% upside projection target of $174.32, based on the $49.55 to $119.41 range traded between March 2020 and January 2022 has recently been reached and rejected.
Disclaimer
Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you
