Long term: towards UQ?

On a quarterly basis, a bullish no-crossover is in
progress with our moving averages and our stochastic. On a monthly basis, our
stochastic and MACD are not yet oversold.

Idea: oversold status this month for our stochastic
and MACD

Bet: very bullish with a bullish no-crossover for our
monthly moving averages (before the end of 2011)

R= UM (108.9),
UQ (120.41);   S= MM (88.45), LM
(68)

Medium term: higher

On a weekly basis, UW / LW spread is above a reference
level but is expending. Rise as long as our MACD is not overbought.

Idea: UM could be a target

Bet: higher for some weeks.

R = UW (101.58);     S = MW (89.31)

Short term: higher

On a daily basis, a
PEI is in progress with our MACD.

Idea: rise as long
as our MACD is not overbought

Bet: towards UM.

R = UM (101.58);    S= MD (92.68)

Conclusion: towardsUM.