Long term: PQ is a strong support

On a yearly basis, Bollinger bands spread is shrinking. The trend for our 7 / 23 years moving averages is slightly up. Our stochastic is oversold with a weak bullish no-crossover.

On a quarterly basis, LQ could turn up but the UQ / LQ spread is wide. A bullish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD are overbought with a bearish divergence for our stochastic. As long as PQ proves to be a support, the decline in progress is only a technical move.

On a monthly basis, a bearish divergence is in progress for our stochastic with a bearish no-crossover for stochastic and MACD. LM / PQ is our main objective.

Idea: if LM = support, a bearish pre-parallel pattern could develop

Bet: MM is our main resistance

 R = MM (118.54), UM (124.74);    S = PQ (111.7), MY (110.37)

 

Medium term: without trend

On a weekly basis, Bollinger bands are flat. Our moving averages are flat. This time frame is without trend.

Idea: bearish no-crossover for our 7 /23 weeks moving average

Bet: towards LW or –

R =MM (118.54);      S = LW (115.72)

 

Short term: recovery

On a daily basis, daily M23 is up for some days. Below PD; LD is our next objective.

Idea: recovery as long as PD = support

Bet: UD will be our main resistance.

 

R = UD (118.71);       S = PD (117.53), LD (116.83)

 

Conclusion: not bullish.