Long term basis: MM as a resistance?
On a yearly basis, the status for our stochastic is overbought.
On a quarterly basis, Bollinger bands are flat. The dynamic for our 7 quarters moving average will continue for the next period or more. A bullish A type crossover could develop at the end of 2010. With a bearish non-crossover (in early January 2010) as a status for our stochastic a collapse towards LQ is expected. Otherwise, a recovery towards MQ or UM could develop.
On a monthly basis; a bearish parallel pattern is over since a close above MM occurred (but we are cautious with the turn over for CAC 40 components). With our 7 / 23 months moving averages, a bullish B type crossover could develop within 3 months.
Idea: with a current close above MM, MQ could be our next target.
R = MM (3672, end of month), MQ (4542); S = MW (3636), LW (3276)
Medium term: bearish no-crossover with PW
On a weekly basis, Bollinger Bands spread is thin. PW acted as a resistance and last week low failed as a support. A bearish non-crossover is in progress with our stochastic and our MACD. With this hypothesis, LW will be our main objective.
Idea: technical correction as long as M23 trend is up.
R = PW (3871) S= MW (3636), LW (3276)
Short term: UD / LD spread is not minimal.
On a daily basis, UD / LD spread is not minimal. With a close below MD, LD is our next target.
Idea: nothing to do next week.
R = MD (3752); S= LD (3600)
Conclusion: towards LW if MW fails as a support (at the close).