CAC 40 (CAC) Up $8.01 On 4 Hour Chart, Moves Down For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days

CAC 40 4 Hour Price Update

Updated May 25, 2020 11:12 PM GMT (07:12 PM EST)

CAC 40 is up 0.18% (8.01) since the last 4 hour candle, marking the 5th candle in a row an increase has occurred. Relative to other instruments in the 8 major global equity indices asset class, CAC 40 ranked 5th since the last 4 hour candle in terms of percentage price change.

CAC 40 Daily Price Recap

CAC 40 came into today down 0.02% (0.89) from the open of the previous day, marking the 2nd day in a row a decrease has occurred. Out of the 8 instruments in the 8 major global equity indices asset class, CAC 40 ended up ranking 3rd for the day in terms of price change relative to the previous day. Here is a daily price chart of CAC 40.

CAC 40 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. 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 another vantage point, consider that CAC 40’s price has gone down 8 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to CAC 40 for the past day were:

  • From truemagic68:

    China’s stance towards HK sees Hang Seng 1% lower & threat of US sanctions, though the Nikkei is 1.4% to the good today. London closed (Whitsun) & New York (Memorial day) – Suggested European opening calls – FTSE 100 CLOSED DAX +84 at 11160, CAC 40 +31 at 4475, NEW YORK CLOSED

  • From DTradingAcademy:

    Main European markets closed slightly mixed on Friday, 05/22/2020. London $FTSE -0.37% at 5,993.28 Paris $CAC 40 -0.02% at 4,444.56, Frankfurt $DAX +0.07% at 11,073.87. These indices were all higher for the week.

  • From BrainandMoney:

    A more positive start to the day
    Eurostoxx +0.8%
    Germany DAX +1.0%
    France CAC 40 +0.8%
    Spain IBEX +1.0%