Long term: towards UY / UM / UQ?

On a yearly basis, Bollinger band spread is not minimal and will stay at the same level for some periods. Our 7 / 23 years moving averages will stay slightly up. With an overbought status for our stochastic (early 2011), 1.164 (2005 low) is the first objective and LY is the next one. But, a bullish no-crossover is not ruled out with our stochastic. With this hypothesis, UY will be our main objective.

On a quarterly basis, the status for our stochastic and our MACD was a bearish no-crossover. For our 7 / 23 quarters moving averages, the pattern in early 2011 could be a bullish no-crossover. UQ will be our first target.

On a monthly basis, the UM / LM spread is far away from its minimal level. Our stochastic and MACD are oversold. UM could be our next objective.

Idea: higher as long as MM = support (end of period)

Bet: next year, a trading range UM / LM is likely

R = UY / UM / UQ (above 1.5);    S= MM (1.3734)

 

Medium term: bullish parallel pattern

On a weekly basis, a bullish parallel qualification is in progress.

Idea: bullish as long as the MACD status is a bullish no-crossover

Bet: bullish no-crossover for our stochastic

R = UW (1.4208), +     S = PW (1.3538)

  

 

Short term: bull trend?

On a daily basis, UD / LD spread is minimal. With a close above UD, a bullish pattern could develop.

Idea: wait a bullish T2 to be long.

Bet: tonight, a bear trend will develop for LD.

R = UW (1.4208);   S = LD (1.3802)

 

Conclusion: on a medium term basis, rise as long as PW (1.3538) acts as a support.