Price broke above the cloud in the previous trading session, changing the chart outlook to bullish. Lagging Span is above the closing of 26 days ago and is above the cloud, confirming the bullish price trend. MACD is below the zero line but MACD line and the signal line just had a bullish crossover, hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the next resistance high at $261.15 in the next 2-3 weeks.
Outlook Price broke below the cloud 2 days ago and yesterday, price broke below the recent low of $207.40. Base and Conversion lines had a bearish crossover earlier but Lagging Span is still in the cloud, unable to confirm the bearish trend. MACD is bearish and had a bearish crossover below the zero line. This could be a hint of further price declines. Using a V price forecasting technique, we get a price objective of $199.00. Using the N price projection, the price target is at $202.16. There was also a previous low support at $200. We think price is likely to decline lower to the support zone of $202 to $199.
Outlook Price has moved below the cloud and closed below the cloud 2 days ago and yesterday, a full candlestick was below the cloud. The bearish trend was confirmed by the bearish crossover of the Conversion and Base lines and Lagging Span below the cloud and price. MACD is currently moving down but still bullish at the moment. The first support lies at $193.80 but we think price can go lower to the gap support at $186.00, given that momentum is only at the beginning stage of the decline
