Long term: higher on a yearly basis
On a yearly basis, the status for our 7 / 23 years moving averages is a bullish no-crossover. The same status is in progress for our stochastic and MACD. The rise in progress should extend for some periods. Current Historical high is only our first objective.
On a quarterly basis, UQ / LQ spread is wide and LQ is flat. A bullish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD were oversold at the same time. Current Historical high is only our first objective.
On a monthly basis, the spread for Bollinger bands spread is wide and bands are diverging. Our stochastic and MACD are not yet overbought.
Idea: as long as our monthly stochastic is not overbought, no correction could develop
Bet: bullish no-crossover for our stochastic is not ruled out.
R = 128.7, +++; S = MM (119.74)
Medium term: bullish parallel pattern
On a weekly basis, our 7 / 23 weeks moving averages are up. A bullish parallel is in progress. The rise could amplify.
Idea: use bullish parallel rules
Bet: towards LW if PW fails as a support.
R = UW (127.97); S = MW (124.25), PW (123.66), LW (120.53)
Short term: lower but not bearish
On a daily basis, Bollinger bands are expending. A bearish no-crossover is the status for our stochastic. For our 7 / 23 days moving averages, a bearish A type crossover will develop. With our weekly moving averages trend, PW could be a support.
Idea: lower as long as our MACD is not oversold
Bet: MD is our main resistance.
R = MD (126.65); S = PW (123.66)
Conclusion: technical correction on a daily basis.