Yearly trend: higher 

On a yearly basis, the pattern in progress looks like a parallel pattern. A PEI is in progress with our MACD. Our 7 / 23 years moving averages will continue to be on a bull trend.

Idea:  UY / LY spread continue to increase

Bet: towards UQ is not ruled out.

R= 100, UQ (115.14)    S= PM (73.26)

 

Long term: higher

On a quarterly basis, the spread UQ / LQ is maximal. With our 7 / 23 quarters moving averages, a bullish A type crossover is in progress. Our MACD and stochastic are oversold.

On a monthly basis, the spread UM / LM is not far away from its reference level. Without a PEI on our quarterly TAM, as long as our MACD is not overbought, the rise in progress will continue.

Idea: higher for 2011

Bet: rise but not bullish.

R= 100;   S= PM (73.26)

 

Medium term: bullish parallel qualification

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

Idea: use bullish parallel rules

Bet: PW will act as a support

R = 100, +;    S = PW (87.25), MW (83.35)

 

 

Short term: flat

On a daily basis, our Bollinger bands spread is a reference one. With our weekly TAM, no specific pattern could develop on a daily basis.

Idea: UD will act as a resistance. LD will act as a support.

Bet: nothing to do this week.

R = UD (91.72);    S = LD (87.18)

 

Conclusion: higher on a medium term basis.