The USD 39.9 support area, currently tested, might facilitate a technical rebound.
From a fundamental viewpoint, analysts who are covering the stock anticipate a 13% appreciation potential on average.
The security follows a downward trend in the short term, under the USD 41.7 resistance area. However, the selling pressure could run out of steam soon. Indeed, whereas the stock shows an oversold condition, the USD 39.90 support area currently tested might stop the bearish trend in the short term. Moreover, the area currently tested corresponds to the contact with an upward trendline in both daily and weekly data.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy the stock in a good timing. Investors might place a stop loss order at USD 38.7 in order to avoid important losses.