Long term basis: technical recovery
On a yearly basis, stochastic and MACD could continue to be overbought for two periods or more. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.
On a quarterly basis, LQ / UQ spread is maximal. Our stochastic could be oversold next period. A NEI will continue to be the status for our moving averages.
On a monthly basis, with a NEI as a status for our moving averages, a bullish trend is impossible.
Idea: cannot be bullish
Bet: towards PM if MM fails as a resistance (e.o.p.).
R = MM (3600), MY (3712); S = LM (2904), PQ (2565)
Medium term: rise?
On a weekly basis, without a PEI, the rise in progress is only a technical recovery.
Idea: rise as long as our MACD is not overbought
Bet: towards LW if MW fails as a support.
R = MM (3600); S= MW (3270), LW (2894).
Short term: decline?
On a daily basis, UD / LD spread is a reference one. No PEI is in progress.
Idea: decline as long as our MACD is not oversold
Bet: towards MW.
R = MD (3494); S= LD (3378), MW (3270).
Conclusion: end of the medium term recovery if MW fails as a support.