Long term: higher on a yearly basis

On a yearly basis, the status for our 7 / 23 years moving averages is a bullish no-crossover. The same status is in progress for our stochastic and MACD. The rise in progress should extend for some periods. Current Historical high is only our first objective.

On a quarterly basis, UQ / LQ spread is wide but increasing. A bullish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD were oversold at the same time. Current Historical high is only our first objective.

On a monthly basis, the spread for Bollinger bands spread is wide and bands are flat. Our stochastic and MACD are not yet overbought. In early 2011 a bearish A type crossover could be the status for our 7 / 23 months moving averages.

Idea: as long as our monthly stochastic is not overbought, no correction could develop                                

Bet: new bullish move above 127.

 R = 127, 128.7;    S = MM (119.46)

 

Medium term: bullish parallel pattern

On a weekly basis, our 7 / 23 weeks moving averages are up. A bullish parallel is in progress. The rise could amplify.

Idea: use bullish parallel rules

Bet: MW is a nice support

R = 127;    S = MW (122.45)

 

 

Short term: without trend

On a daily basis, M23 will continue to decline. With an oversold status for our MACDMD will be our first target. Otherwise MW could be an objective.

Idea: no bear pattern with our weekly trend

Bet: above MD.

R = MD (124.92), UD (126.64);    S = LD (123.2)

 

Conclusion: MW is our main support.