Long term: flat

On a yearly basis, Bollinger bands spread is not minimal. Our 7 / 23 years moving averages are slightly bullish. Stochastic is overbought. UY is our main resistance and MY is our main support.

On a quarterly basis, Bollinger spread is a reference one. A bearish no-crossover is the status for our MACD. LQ is our first objective.

On a monthly basis, the UM / LM spread is above a reference one. TAM tools will continue to decline. LM is our main target.

Idea: lower

Bet: towards LM.

R= MM (1.3605), MQ (1.3943);    S= LM (1.2365) , MY (1.2132)

Medium term: lower but not bearish

On a weekly basis, a PEI is in progress with our moving averages.

Idea: a PEI could develop with our stochastic and MACD

Bet: lower as long as our MACD is not oversold.

R = MW (1.3589);     S = LW (1.2795)

Short term: technical recovery in progresslrt term: no trend965Y (1.4243amilliales) enance personnelle.tellis

On a daily basis, a bullish no-crossover is in progress with MACD. As long as M23 trend is down, a rise is only a technical recovery. Above PD, UD is our next objective.

Idea: Focus next Friday on M7 trend

Bet: bearish pre-parallels.

R = PD (1.3103), UD (1.3304);   S = LD (1.2832)

Conclusion: weak.