Long term: higher for some quarters

On a yearly basis, TAM tools are weak. LY is our main target.

On a quarterly basis, Bollinger bands spread is shrinking but the level is above a reference one. A bearish no-crossover could develop with our moving averages.

On a monthly basis, the UM / LM spread is expending with a close below LM.  TAM tools are bearish without a PEI.

Idea: monthly MACD is our leading indicator

Bet: lower for some quarters.

R= MM (1.5804);    S= LQ (1.3793)

Medium term: type II in progress

On a weekly basis, a type II will be in hand next Friday.

Idea: use parallel rules

Bet: towards LQ.

R = PW (1.5821);     S = LQ (1.3793).

Short term: bearish parallels

On a daily basis, a bearish parallels pattern is in progress.

Idea: use parallel rules

Bet: lower.

R = MD (1.5357);        S = LD (1.4893).

Conclusion: lower.