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 no-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, our stochastic and MACD are oversold. The spread for Bollinger bands spread is wide and LM is flat. 128.7 (Historical High) could be our next target. But, a technical correction towards MM is not ruled out with an overbought status for our stochastic.

Idea: bullish for some years                                                                                                                      

Bet: a technical correction until years‘s end could develop

 R = 128.7;    S = MM (119.47)

 

Medium term: bullish parallel pattern

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

Idea: use bullish parallel rules

Bet: more decline below PW

R = 128.7;    S = PW (123.08)

 

 Short term: warning

On a daily basis, a bullish no-crossover occurred with PD. The status for our stochastic and MACD is a bearish no-crossover. As long as MD proves to be a support, a decline is only a technical move. Next target will be PW.

Idea: MD could fail as a support

Bet: in September a bullish no-crossover could develop with our 7 / 23 daily moving averages.

R = UD (126.94);    S = PD (125.3), MD (124.95)

 

Conclusion: a short term correction could develop soon (inflation???)