CAC 40 (CAC) Up 1.45%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

The Hourly View for CAC

Last Updated February 16, 2021, 23:17 GMT

Currently, CAC 40’s price is up 2 (0.03%) from the hour prior. The hourly chart shows that CAC 40 has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CAC 40 Daily Price Recap

CAC 40 closed the previous day up 1.45% (82.58); this denotes the 2nd day in a row it has gone up. Out of the 14 instruments in the equity indices asset class, CAC 40 ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of CAC 40 below illustrates.

CAC

CAC 40 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 17 out of the past 30 days.