CAC closes higher for the 2nd day in a row


CAC 40 Index (CAC) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
CAC closes above its opening price after recovering from early selling pressure
CAC closes higher for the 2nd day in a row
CAC pushes through previous session high
CAC ends the day indecisive
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, CAC finished the week 0.99% higher at 5429.20 after gaining €23.30 (0.43%) today. Trading up to €9.87 lower after the open, CAC 40 Index managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 5406.48, the stock index confirms its breakout through the previous session's high having traded €33.08 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CAC
Volatility

Friday's trading range was €21.39 (0.39%), that's far below last trading month's daily average range of €55.40. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 5405.36.

Trend

The index shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for CAC 40 Index
ConditionForecastDirectionWinAvgWorstBestEvents
Bullish Bounce off SMA 20 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

CAC breaks key support level

Jul 20, 2018
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