Long term: flat
On a yearly basis, Bollinger bands spread is flat. Next period, TAM tools trend will be down. 1.1640 (2005 low) will be our main target.
On a quarterly basis, Bollinger bands spread is a reference one and will continue to expand. A bearish no-crossover is the status for each TAM tool.
On a monthly basis, UM / LM spread is above the reference level but Bands continue to expand.
Idea: lower with a technical recovery if our monthly stochastic status is oversold
Bet: focus on monthly stochastic until the end of next week.
R= MM (1.35); S= 1.164.
Medium term: technical recovery in progress
On a weekly basis, with a close above MW, UW could be our next objective.
Idea: stochastic will be up for two periods or more
Bet: UW as a target if 1.2748 (June 2012 high) fails as a resistance.
R= MW (1.2584 at the close), 1.2748, UW (1.3193); S= LW (1.1975)
Short term: rise
On a daily basis, a PEI is in progress with our moving averages.
Idea: use our MACD as a leading indicator
Bet: up for 15 periods.
R= UD (1.2601); S= MD (1.2409)
Conclusion: close a short position if MW fails as a resistance (e.o.p).