CAC 40 EQUAL WEIGH - 1H - Technical analysis published on 08/01/2022 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 2,344.96 EUR
My targets
2,392.86 EUR (+1.60%)
2,444.77 EUR (+3.80%)
My analysis
CAC 40 EQUAL WEIGH is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2,344.96 EUR. The next resistance located at 2,392.86 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2,444.77 EUR. After this resistance, buyers could then target 2,597.02 EUR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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Additional analysis
Quotes
CAC 40 EQUAL WEIGH rating 2,355.19 EUR. On the day, this instrument lost -0.02% and was between 2,355.18 EUR and 2,372.34 EUR. This implies that the price is at +0.00% from its lowest and at -0.72% from its highest.2,355.18
2,372.34
2,355.19
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAC 40 EQUAL WEIGH in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,222.05 | 2,288.95 | 2,344.96 | 2,355.19 | 2,392.86 | 2,444.77 | 2,597.02 |
| Change (%) | -5.65% | -2.81% | -0.43% | - | +1.60% | +3.80% | +10.27% |
| Change | -133.14 | -66.24 | -10.23 | - | +37.67 | +89.58 | +241.83 |
| Level | Intermediate | Major | Intermediate | - | Minor | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,332.31 | 2,343.74 | 2,349.47 | 2,360.90 | 2,366.63 | 2,378.06 | 2,383.79 |
| Camarilla | 2,350.47 | 2,352.04 | 2,353.62 | 2,355.19 | 2,356.76 | 2,358.34 | 2,359.91 |
| Woodie | 2,329.45 | 2,342.32 | 2,346.61 | 2,359.48 | 2,363.77 | 2,376.64 | 2,380.93 |
| Fibonacci | 2,343.74 | 2,350.30 | 2,354.35 | 2,360.90 | 2,367.46 | 2,371.51 | 2,378.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,180.38 | 2,219.39 | 2,287.54 | 2,326.55 | 2,394.70 | 2,433.71 | 2,501.86 |
| Camarilla | 2,326.22 | 2,336.04 | 2,345.87 | 2,355.69 | 2,365.51 | 2,375.34 | 2,385.16 |
| Woodie | 2,194.95 | 2,226.68 | 2,302.11 | 2,333.84 | 2,409.27 | 2,441.00 | 2,516.43 |
| Fibonacci | 2,219.39 | 2,260.33 | 2,285.62 | 2,326.55 | 2,367.49 | 2,392.78 | 2,433.71 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,909.05 | 2,002.32 | 2,179.01 | 2,272.28 | 2,448.97 | 2,542.24 | 2,718.93 |
| Camarilla | 2,281.45 | 2,306.20 | 2,330.94 | 2,355.69 | 2,380.44 | 2,405.18 | 2,429.93 |
| Woodie | 1,950.75 | 2,023.18 | 2,220.71 | 2,293.14 | 2,490.67 | 2,563.10 | 2,760.63 |
| Fibonacci | 2,002.32 | 2,105.45 | 2,169.16 | 2,272.28 | 2,375.41 | 2,439.12 | 2,542.24 |
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): | 62.81 | |
| MACD (12,26,9): | 16.2700 | |
| Directional Movement: | 14.96 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 2,373.01 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,372.34 | |
| Elder Ray (13): | 2.79 | |
| Super Trend (3,10): | 2,344.51 | |
| Zig ZAG (10): | 2,355.57 | |
| VORTEX (21): | 1.2300 | |
| Stochastique (14,3,5): | 57.93 | |
| TEMA (21): | 2,374.59 | |
| Williams %R (14): | -65.12 | |
| Chande Momentum Oscillator (20): | 1.22 | |
| Repulse (5,40,3): | -0.4600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 2.03 |
| MA7: | 2,305.42 | |
| MA20: | 2,234.48 | |
| MA50: | 2,269.71 | |
| MA100: | 2,342.95 | |
| MAexp7: | 2,362.94 | |
| MAexp20: | 2,350.32 | |
| MAexp50: | 2,319.81 | |
| MAexp100: | 2,286.93 | |
| Price / MA7: | +2.16% | |
| Price / MA20: | +5.40% | |
| Price / MA50: | +3.77% | |
| Price / MA100: | +0.52% | |
| Price / MAexp7: | -0.33% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +1.53% | |
| Price / MAexp100: | +2.98% |
Quotes :
-
15 min delayed data
-
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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