Long term: technical recovery
On a yearly basis, our 7 / 23 moving averages have a down trend. Our stochastic and MACD are overbought. LY is our first support.
On a quarterly basis, the spread UQ / LQ is wide but extend. For our 7 / 23 quarters moving averages, a bearish A type crossover is in progress. Our stochastic and MACD are not oversold (a bearish no-crossover could develop). LQ is our main target.
On a monthly basis, the status for our 7 / 23 months moving averages is a bearish no-crossover. Our stochastic and MACD are not yet overbought. . With a close below MM, LM could be a target.
Idea: end of the multi-months recovery with a close below MM.
Bet: buy long term put.
R = UM (13461); S = MM (9834), PM (8328), LM (6894)
Medium term: UW / LW spread is minimal
On a weekly basis, UW and LW are flat. With our 7 / 23 weeks moving averages, a bearish A type crossover will develop. LW is our next objective.
Idea: not yet bearish
Bet: bearish after year’s end.
R = MW (10131); S = LW (9315)
Short term: bearish without pattern
On a daily basis, Bollinger bands spread was minimal and expending when a close occurred below LD. With the weekly status, the bear trend is only a technical decline.
Idea: same trend as long as our MACD is not oversold
Bet: MD will act as a resistance.
R = PD (10386); S = LW (9315)
Conclusion: weak and bearish after the end of Q1.
Position: Previous: nothing, in progress: nothing, next: nothing