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 are always on a bull trend.
Idea: UY / LY spread is increasing
Bet: towards UQ is expected.
R= UQ (120.63), PY (144.3), +++ S= PM (82.46)
Long term: higher
On a quarterly basis, the spread UQ / LQ is maximal but expending. TAM are up without PEI.
On a monthly basis, UM / LM spread is increasing. A PEI is in progress with our stochastic and with our moving averages. A type II is in progress.
Idea: new maximal spread for UQ / LQ is likely
Bet: Wait early June for a “very special” target.
R= UQ (120.63); S= PM (81.25)
Medium term: bullish
On a weekly basis, a PEI is in progress with our moving averages and with our stochastic.
Idea: Higher as long as MW proves to be a support.
Bet: a new bullish pattern will develop.
R = +; S = MW (93.43)
Short term: higher
On a daily basis, a PEI is in progress with our moving averages and with our stochastic.
Idea: a bullish parallel will develop
Bet: bullish as long as MD = support.
Conclusion: buy call and wait for PY as a first target….