CAC, D1

On the daily chart, the instrument was corrected to the upper border of Bollinger bands. The indicator is directed upwards, and the price range remains unchanged, which indicates the continuation of the uptrend. The key support is level 5446.0. MACD histogram has left the neutral area, its volumes have slightly grown, having generated a buy signal. Stochastic entered the overbought area, giving no signal for entering the market.

CAC, H4

On the 4-hour chart, the instrument grows along the upper border of Bollinger bands, testing a strong resistance at 5490.0. The indicator is pointing upwards, while the price range has slightly decreased, which indicates the continuation of correction of the uptrend. MACD histogram is in the positive area, maintaining a strong buy signal. Stochastic is preparing to leave the oversold area, the buy signal can be formed in the next few hours.

Key Levels

Resistance levels: 5490.0, 5540.7, 5588.1, 5626.0, 5658.2.

Support levels: 5264.1, 5317.1, 5356.9, 5402.4, 5446.0.

Trading tips

Long positions can be opened above the level of 5490.0 with the target at 5550.0 and stop loss 5458.0.

Short positions can be opened below the level of 5458.0 with the target at 5403.0 and stop loss 5475.0.

Implementation period: 2–4 days.

CAC40 index of the French stock exchange

BuySellSpread
5344.95341.138

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point5491.0
Take Profit5550.0
Stop Loss5458.0
Support levels5446.0, 5402.4, 5356.9, 5317.1, 5317.1, 5490.0, 5540.7, 5588.1, 5626.0, 5658.2

Alternative scenario

RecommendationsSELL STOP
Entry Point5457.0
Take Profit5403.0
Stop Loss5475.0
Support levels5446.0, 5402.4, 5356.9, 5317.1, 5317.1, 5490.0, 5540.7, 5588.1, 5626.0, 5658.2
CAC: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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