CAC40 INDEX - Daily - Technical analysis published on 06/17/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 6,111.24 EUR
My targets
5,606.54 EUR (-4.75%)
4,595.14 EUR (-21.93%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on CAC40 INDEX as long as the price remains well below 6,111.24 EUR. The sellers' bearish objective is set at 5,606.54 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 4,595.14 EUR. In case of crossing, the next objective would be the support located at 3,904.01 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
8.4
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This analysis was given by ASHIQ ALI. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAC40 INDEX rating is 5,886.24 EUR. The price is lower by -2.39% since the last closing and was between 5,872.20 EUR and 6,018.10 EUR. This implies that the price is at +0.24% from its lowest and at -2.19% from its highest.5,872.20
6,018.10
5,886.24
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CAC40 INDEX chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 3,904.01 | 4,595.14 | 5,606.54 | 5,886.24 | 6,111.24 | 6,719.78 | 6,896.04 |
Change (%) | -33.68% | -21.93% | -4.75% | - | +3.82% | +14.16% | +17.16% |
Change | -1,982.23 | -1,291.10 | -279.70 | - | +225.00 | +833.54 | +1,009.80 |
Level | Major | Major | Intermediate | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 5,687.03 | 5,779.61 | 5,832.93 | 5,925.51 | 5,978.83 | 6,071.41 | 6,124.73 |
Camarilla | 5,846.12 | 5,859.49 | 5,872.87 | 5,886.24 | 5,899.61 | 5,912.99 | 5,926.36 |
Woodie | 5,667.39 | 5,769.80 | 5,813.29 | 5,915.70 | 5,959.19 | 6,061.60 | 6,105.09 |
Fibonacci | 5,779.61 | 5,835.35 | 5,869.78 | 5,925.51 | 5,981.25 | 6,015.68 | 6,071.41 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 5,629.47 | 5,903.39 | 6,045.31 | 6,319.23 | 6,461.15 | 6,735.07 | 6,876.99 |
Camarilla | 6,072.87 | 6,110.99 | 6,149.11 | 6,187.23 | 6,225.35 | 6,263.47 | 6,301.59 |
Woodie | 5,563.47 | 5,870.39 | 5,979.31 | 6,286.23 | 6,395.15 | 6,702.07 | 6,810.99 |
Fibonacci | 5,903.39 | 6,062.24 | 6,160.38 | 6,319.23 | 6,478.08 | 6,576.22 | 6,735.07 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 5,679.83 | 5,882.93 | 6,175.86 | 6,378.96 | 6,671.89 | 6,874.99 | 7,167.92 |
Camarilla | 6,332.39 | 6,377.86 | 6,423.33 | 6,468.80 | 6,514.27 | 6,559.74 | 6,605.21 |
Woodie | 5,724.76 | 5,905.39 | 6,220.79 | 6,401.42 | 6,716.82 | 6,897.45 | 7,212.85 |
Fibonacci | 5,882.93 | 6,072.41 | 6,189.47 | 6,378.96 | 6,568.44 | 6,685.50 | 6,874.99 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 31.86 | |
MACD (12,26,9): | -103.4400 | |
Directional Movement: | -28.24 | |
AROON (14): | -57.14 | |
DEMA (21): | 6,150.03 | |
Parabolic SAR (0,02-0,02-0,2): | 6,445.06 | |
Elder Ray (13): | -256.02 | |
Super Trend (3,10): | 6,321.01 | |
Zig ZAG (10): | 5,886.24 | |
VORTEX (21): | 0.7600 | |
Stochastique (14,3,5): | 6.30 | |
TEMA (21): | 6,078.34 | |
Williams %R (14): | -98.05 | |
Chande Momentum Oscillator (20): | -582.56 | |
Repulse (5,40,3): | -4.9000 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0800 | |
Courbe Coppock: | 8.43 |
MA7: | 6,126.12 | |
MA20: | 6,324.49 | |
MA50: | 6,388.00 | |
MA100: | 6,542.45 | |
MAexp7: | 6,093.33 | |
MAexp20: | 6,260.44 | |
MAexp50: | 6,379.09 | |
MAexp100: | 6,505.36 | |
Price / MA7: | -3.92% | |
Price / MA20: | -6.93% | |
Price / MA50: | -7.85% | |
Price / MA100: | -10.03% | |
Price / MAexp7: | -3.40% | |
Price / MAexp20: | -5.98% | |
Price / MAexp50: | -7.73% | |
Price / MAexp100: | -9.52% |
Quotes :
-
15 min delayed data
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Euronext Indices
News
Don't forget to follow the news on CAC40 INDEX. At the time of publication of this analysis, the latest news was as follows:
- DAX and CAC Forecast June 17, 2022
- DAX and CAC Forecast June 7, 2022
- DAX and CAC Forecast May 24, 2022
- DAX and CAC Forecast May 19, 2022
- DAX and CAC Forecast May 17, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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