CAC 40 (CAC) Down $49.01 On 4 Hour Chart, Outperforms All 8 major Global Equity Indices; Crosses 20 and 50 Day Moving Averages
Cac 40 outperformed all 8 assets in the 8 major global equity indices asset class since yesterday.
CAC 40
(Last Updated August 11, 2020)
Welcome to the news page for CAC 40 (CAC). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on CAC, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
CAC Moving Averages
The moving averages on CAC summarize its price action in an interesting way. The 50 and 100 day averages are pointing upwards, suggesting a bullish trend, while the 20 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes.
Below is a chart showing CAC’s price with its moving averages.
The View From the Weekly Timeframe
Currently, CAC’s price is up $19.99 (0.41%) from the week prior. Moreover, note that this is the 2nd week in a row CAC has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on CAC. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. CAC’s weekly price action over the past 52 weeks can be seen via the chart below.
CAC 40 (CAC) Down $49.01 On 4 Hour Chart, Tops All 8 major Global Equity Indices; Breaks Above 20 and 50 Day Averages
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
CAC 40 (CAC) Up $82.43 On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Relative to other instruments in the 8 major global equity indices asset class, cac 40 ranked 3rd since the previous day in terms of percentage price change.
CAC 40 (CAC) Up $9.15 in Last 4 Hours, Started Today Up 0.09%; in an Uptrend Over Past 90 Days
Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe.
CAC 40 (CAC) Down $24.89 On 4 Hour Chart; Started Today Down 0.98%
Some progress over us $1.2 trn stimulus package has been made in congress though agreement is not imminent.
CAC 40 (CAC) Up $7.79 in Last 4 Hours; Started Today Up 0.9%
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.
CAC 40 (CAC) Down $1 in Last 4 Hours, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
Relative to other instruments in the 8 major global equity indices asset class, cac 40 ranked 6th since yesterday in terms of percentage price change.
CAC 40 (CAC) Down $0.42 in Last 4 Hours, 2 Day Down Streak Broken; in a Downtrend Over Past 14 Days
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.
CAC 40 (CAC) Up $21.02 in Last 4 Hours, Moves Down For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
CAC 40 (CAC) Up $15.17 On 4 Hour Chart, 5 Day Down Streak Broken; Morning Star Pattern Appearing on Chart
Relative to other instruments in the 8 major global equity indices asset class, cac 40 ranked 3rd since the previous day in terms of percentage price change.