CAC NEXT 20 - 1H - Technical analysis published on 01/23/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
28%
22%
50%
My opinion
Bearish under 11,076.21 EUR
My targets
10,882.64 EUR (-1.16%)
10,786.87 EUR (-2.03%)
My analysis
In a bearish trend, the price of CAC NEXT 20 tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 11,076.21 EUR. A bearish break in the support located at 10,882.64 EUR would revive the bearish momentum and fuel the basic trend. Then the price could move towards 10,786.87 EUR. Then 10,696.22 EUR by extension. It would be safer to wait for a bearish break in the support located at 10,882.64 EUR before allowing yourself to re trade short positions (for sale) on CAC NEXT 20. PS: if there is a bullish break in the resistance located at 11,076.21 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
0.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAC NEXT 20 rating 11,010.49 EUR. The price registered a decrease of -0.02% on the session with the lowest point at 10,967.66 EUR and the highest point at 11,077.21 EUR. The deviation from the price is +0.39% for the low point and -0.60% for the high point.10,967.66
11,077.21
11,010.49
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAC NEXT 20 chart shows a bearish trend. The signals given by moving averages are at 64.29% bearish. This bearish trend could slow down given the slightly bullish signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner found this result concerning these indicators:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10,786.87 | 10,882.64 | 11,009.16 | 11,010.49 | 11,076.21 | 11,151.55 | 11,245.12 |
| Change (%) | -2.03% | -1.16% | -0.01% | - | +0.60% | +1.28% | +2.13% |
| Change | -223.62 | -127.85 | -1.33 | - | +65.72 | +141.06 | +234.63 |
| Level | Intermediate | Major | Minor | - | 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 | 10,850.15 | 10,908.90 | 10,959.70 | 11,018.45 | 11,069.25 | 11,128.00 | 11,178.80 |
| Camarilla | 10,980.36 | 10,990.41 | 11,000.45 | 11,010.49 | 11,020.53 | 11,030.57 | 11,040.62 |
| Woodie | 10,846.17 | 10,906.91 | 10,955.72 | 11,016.46 | 11,065.27 | 11,126.01 | 11,174.82 |
| Fibonacci | 10,908.90 | 10,950.75 | 10,976.61 | 11,018.45 | 11,060.30 | 11,086.16 | 11,128.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10,317.74 | 10,552.30 | 10,734.56 | 10,969.12 | 11,151.38 | 11,385.94 | 11,568.20 |
| Camarilla | 10,802.19 | 10,840.39 | 10,878.60 | 10,916.81 | 10,955.02 | 10,993.23 | 11,031.44 |
| Woodie | 10,291.58 | 10,539.23 | 10,708.40 | 10,956.05 | 11,125.22 | 11,372.87 | 11,542.04 |
| Fibonacci | 10,552.30 | 10,711.53 | 10,809.90 | 10,969.12 | 11,128.35 | 11,226.72 | 11,385.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10,178.24 | 10,462.36 | 10,964.61 | 11,248.73 | 11,750.98 | 12,035.10 | 12,537.35 |
| Camarilla | 11,250.61 | 11,322.69 | 11,394.78 | 11,466.86 | 11,538.94 | 11,611.03 | 11,683.11 |
| Woodie | 10,287.31 | 10,516.89 | 11,073.68 | 11,303.26 | 11,860.05 | 12,089.63 | 12,646.42 |
| Fibonacci | 10,462.36 | 10,762.75 | 10,948.34 | 11,248.73 | 11,549.12 | 11,734.71 | 12,035.10 |
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): | 51.58 | |
| MACD (12,26,9): | 13.7200 | |
| Directional Movement: | 14.85 | |
| AROON (14): | 0 | |
| DEMA (21): | 11,025.71 | |
| Parabolic SAR (0,02-0,02-0,2): | 10,971.64 | |
| Elder Ray (13): | 4.16 | |
| Super Trend (3,10): | 10,942.20 | |
| Zig ZAG (10): | 11,010.49 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 46.68 | |
| TEMA (21): | 11,042.07 | |
| Williams %R (14): | -60.90 | |
| Chande Momentum Oscillator (20): | 16.08 | |
| Repulse (5,40,3): | -0.3100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.50 |
| MA7: | 10,999.99 | |
| MA20: | 11,217.37 | |
| MA50: | 11,033.83 | |
| MA100: | 10,788.22 | |
| MAexp7: | 11,021.61 | |
| MAexp20: | 11,008.38 | |
| MAexp50: | 11,013.00 | |
| MAexp100: | 11,073.51 | |
| Price / MA7: | +0.10% | |
| Price / MA20: | -1.84% | |
| Price / MA50: | -0.21% | |
| Price / MA100: | +2.06% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.57% |
Quotes :
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15 min delayed data
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Euronext Indices
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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