Long term basis: technical recovery
On a yearly basis, the status for our stochastic is overbought but our 7 / 23 years moving averages are up.
On a quarterly basis, Bollinger bands are flat. The bearish trend for our 7 quarters moving average will continue for the next period. A bullish A type crossover could develop at the end of 2010. Our stochastic is oversold. A recovery towards MQ or UM could develop.
On a monthly basis; with our 7 / 23 months moving averages, a bullish B type crossover could develop within 3 months. Our stochastic will be overbought in 2 periods or more.
Idea: MQ could be our next target.
Bet: not higher than MQ / UM.
R = MQ (4594); S = MM (3570)
Medium term: rise without bullish pattern
On a weekly basis, Bollinger Bands spread is thin. Our moving averages, stochastic and MACD are up. As long as our MACD is not overbought, the rise in progress will continue.
Idea: as long as M23 trend is up, a decline will be a technical correction.
Bet: towards UM
R = UM (4604) S= MW (3777), LW (3621)
Short term: rise without bullish pattern
On a daily basis, our moving averages, stochastic and MACD are up. As long as our MACD is not overbought, the rise in progress will continue.
Idea: as long as MD = support, a decline is only a technical correction.
Bet: PD will act as a support
R = UD (4052), UM (4604); S= PD (3933), MD (3896)
Conclusion: technical rise in progress, at least, until the end of February.