Long term: towards 2400 or lower

On a yearly basis, see the dynamic for – 8 and next…MY failed as a support. 2400 is our first target. Our stochastic is overbought. 2400 should fail as a support. Below 2 000, LY (652) will be our next objective.

On a quarterly basis, a nice dynamic is in progress with each Bollinger band. Last close was below LQ. With our 7 / 23 quarters moving averages a bearish A or B type crossover is in progress (wait for Q2 close). Our MACD could be overbought for two periods or more. On a monthly basis; a bearish parallel pattern is in progress as long as MM (4305) proves to be a resistance.

Idea: LY (648) is our main target with aquarterly A type bearish crossover.

R = UW (3366), PM (3458);   S = 2400, 2000, LY (648)

Medium term: be careful with a bullish B type crossover

On a weekly basis, a bullish B type crossover could develop within two weeks. With this hypothesis, the recovery in progress will be over when our stochastic will be overbought. With a bullish A type crossover, UW (3366) will be our main resistance.

Idea: rise but not bullish.

R = UW (3366);     S = MW (2973)

Short term: rise in progress

On a daily basis, Bollinger bands spread is not minimal. As long as our 23 days moving average is up, the rise will continue without bullish ATDMF pattern (weekly trend could not be bullish). UW (3366) is our main target. MD (3000) is a strong support.

Idea: long for intraday players.

R = UW (3366);     S= MD (3000)

Conclusion: bearish on a monthly (and higher) time frame.