Long term basis: not yet bullish

On a yearly basis, the status for our stochastic is overbought. With our 7 / 23 years moving averages, a bearish B type crossover will develop before 2014.  As long as MY (end of period) proves to be a support, the recovery could continue. Next supports are 2003 low and LY.

On a quarterly basis, MQ is our next objective. With a close above MQ, The pattern could be similar to the Q2 2005 one.

On a monthly basis, Bollinger bands spread is minimal. With a NEI on our quarterly TAM, UM could be our maximal target.

Idea: bullish with a close above MQ

Bet: with a close above UM, MQ is our next objective.  

R = UM (4048), MQ (4377);    S = MM (3675), May 2010 low (3287), LM (3303), 2003 low (2401), LY (1147)

 

Medium term: rise in progress

On a weekly basis, Bollinger bands spread is minimal. As long as UM proves to be a resistance (at the close), the rise in progress is a technical move.

Idea:  rise as long as MW proves to be a support

Bet: towards LW if MW fails as a support.

 

R = UM (4048);               S= MW (3675), LW (3301)

 

 hort term: bullish

On a daily basis, UD / LD spread is minimal. With a bear trend for LD until Wednesday, a bull trend will develop.

Idea: higher, as long as our daily stochastic is not overbought

Bet: bullish above UM.

R = UM (4048);     S= MD (3888)

 

Conclusion: long above 4048.