Yearly trend: higher

 

On a yearly basis, the pattern in progress looks like a parallel pattern. The current status for our MACD is a bullish no-crossover. Our 7 / 23 years moving averages are always on a bull trend.

Idea: higher with UY / LY spread increasing each week

Bet: 87.15 (2010 high) is our first resistance

 

Long term: neutral

On a quarterly basis, the spread UQ / LQ is maximal. With our 7 / 23 quarters moving averages, a bullish pseudo no-crossover could develop this year. MACD and stochastic indicators are without trend.

On a monthly basis, the spread UM / LM is shrinking but is far away from its minimal level. Our moving averages, stochastic and MACD are neutral.

Idea: a bullish no-crossover could be the status for our MACD

Bet: MM will act as a support

R= 87.15, UM (91.18);    S= MM (72.29)

 

Medium term: recovery

On a weekly basis, UW and LW are up. Our 7 / 23 weekly moving averages are up. Stochastic and MACD indicators are oversold. As long as our MACD is not overbought, the recovery in progress will continue.

Idea: UM is a strong resistance

Bet: higher in October

R = UM (91.18);     S = MW (77.1)

 

Short term: bullish parallel

On a daily basis, a bullish parallel qualification is in progress. PD failed as a support with M7 down.  

Idea: use bullish parallel rules

Bet: today,  if PD acts as a resistance, next objective is MD

R = PD (84.43), UD (85.98);          S = MD (79.81)

 

Conclusion: above annual high is not ruled out (declining $?)