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: LY is flat below 75 and down above 80

Bet: 87.15 (2010 high) is a far away strong resistance

 

Long term: a bearish no-crossover status for our quarterly stochastic and MACD could develop

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. A bearish no-crossover will be the status for our stochastic and for our MACD at the end of the period. With this hypothesis, LQ will be our main target.

On a monthly basis, the spread UM / LM is shrinking but is far away from its minimal level. Our MACD could be overbought next month. As long as PM proves to be a support, a recovery could develop. Otherwise, LM will be our next objective.

Idea: main trend in early October

Bet: 82.97 (August high) is a strong resistance

R= 82.97, UM (92.71);    S= PM (63.11), LM (47.55)

 

Medium term: without trend

On a weekly basis, UW and LW are flat. Our 7 / 23 weekly moving averages, stochastic and MACD are neutral.

Idea: UW is a strong resistance and PW is our first support.

Bet: nothing to do

R = UW (80.04);     S = PW (72.75), LW (70.61)

 

Short term: without trend

On a daily basis, UD / LD spread is minimal. A bullish no-crossover is in progress with our 7 / 23 days moving averages. If 78.04 fail as a resistance, UW will be our next target.

Idea: below MD if 78.04 act as a resistance

Bet: nothing to do.

R = 78.04, UW (80.04);          S = MD (74.92), LD (72.65)

 

Conclusion: technical recovery in progress on a short term basis.