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 and LQ is flat. 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 diverging. Our stochastic and MACD are not yet overbought.

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

Bet: bullish no-crossover for our stochastic is not ruled out.

 R = 128.7, +++;    S = MM (119.74)

 

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: towards LW if PW fails as a support.

R = UW (127.97);    S = MW (124.25), PW (123.66), LW (120.53)

 

 

Short term: lower but not bearish

On a daily basis, Bollinger bands are expending. A bearish no-crossover is the status for our stochastic. For our 7 / 23 days moving averages, a bearish A type crossover will develop. With our weekly moving averages trend, PW could be a support.

Idea: lower as long as our MACD is not oversold

Bet: MD is our main resistance.

R = MD (126.65);    S = PW (123.66)

 

Conclusion: technical correction on a daily basis.