CAC: technical analysis
21 August 2018, 11:06
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 5393.0 |
| Take Profit | 5425.0, 5490.0 |
| Stop Loss | 5350.0 |
| Key Levels | 5170.0, 5245.0, 5295.0, 5425.0, 5490.0, 5525.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 5295.0 |
| Take Profit | 5245.0, 5170.0 |
| Stop Loss | 5340.0 |
| Key Levels | 5170.0, 5245.0, 5295.0, 5425.0, 5490.0, 5525.0 |
CAC, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is growing, having failed its strong support. The Composite is growing towards its longer MA as well.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is testing from above its longer MA.
Key levels
Support levels: 5295.0 (local lows), 5245.0 (June lows), 5170.0 (local lows).
Resistance levels: 5425.0 (local highs), 5490.0 (May 2017 highs), 5525.0 (November 2017 highs).
Trading tips
The price has retested its longer-term ascending trendline. The growth could continue.
Long positions can be opened from current prices with targets at 5425.0, 5490.0 and stop-loss at 5350.0. Validity – 3-5 days.
Short positions can be opened from the level of 5295.0 with targets at 5245.0, 5170.0 and stop-loss at 5340.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is growing, having failed its strong support. The Composite is growing towards its longer MA as well.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is testing from above its longer MA.
Key levels
Support levels: 5295.0 (local lows), 5245.0 (June lows), 5170.0 (local lows).
Resistance levels: 5425.0 (local highs), 5490.0 (May 2017 highs), 5525.0 (November 2017 highs).
Trading tips
The price has retested its longer-term ascending trendline. The growth could continue.
Long positions can be opened from current prices with targets at 5425.0, 5490.0 and stop-loss at 5350.0. Validity – 3-5 days.
Short positions can be opened from the level of 5295.0 with targets at 5245.0, 5170.0 and stop-loss at 5340.0. Validity – 3-5 days.
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