Long term:  89.99 is our first objective

On a yearly basis, stochastic will be overbought in Q1 2009. The status for our 7 / 23 years moving averages is a bearish non-crossover. MW (103.7) is a strong resistance and 89.99 is our first support and Historical low (79.7) is the next one.

On a quarterly basis, Bollinger bands spread is minimal. UQ / LQ spread is increasing. With our 7 / 23 quarters moving averages, a bearish A type crossover is in progress. Our stochastic and MACD are overbought (bearish non-crossover for our stochastic and our MACD). 89.99 is our first objective.

On a monthly basis, our stochastic and MACD are overbought (+ MACD overbought before our stochastic). A bearish non-crossover is the status for our 7 / 23 months moving averages. As long as M23 is bearish, the main trend is bearish. PW (102.71) is our main resistance.

Idea: bearish trend for 2009.

Medium term: bearish parallel pattern

 On a weekly basis, Bollinger bands spread was expending when a bearish crossover between MW and PW occurred. With our 7 / 23 weeks moving averages, a bearish A type crossover is in progress. Our MACD is not oversold and a bearish non-crossover in progress with our stochastic. A bearish parallel pattern is in progress.

Idea: use bearish parallel rules.

Short term: flat

On a daily basis, the status for our 7 / 23 days moving averages and stochastic is a bearish non-crossover. As long as MD (97.08) acts as a resistance, a bearish pre-parallel pattern could develop.

Idea: Bollinger bands spread increase.

Conclusion: LD (94.41) is our first support.