This one will be a complete technical analysis. Starting point ->>> support lines 73.50$ - 72.64$ Stopploss - 75.40$ 1. Target - 81.05$ 2. Target
Buying reasons -2 support lines 74.17$+73.50$ -daily: RSI oversold (30 area) + MACD tendencies for a countermovement
Selling points -weekly+monthly MACD indicates sell down -weekly+ monthly RSI indicates selldown -under the SMAs (except for 400)
The violet line shows the general uptrend from 2020 to March where we have a break-out (bearish). This shows us that it is unlikely to get ATH. Therefore, I wrote some easier achievable goals. So, first target has a risk reward ratio of 3.11 with +3.8% upside. Second has risk reward ratio of 8.6 with +10% upside, both with a 1.2% stoploss. The stopploss is based on a Fibonacci retracement.