INDEX:CAC40
Very interesting phase in the basket that contains the first 40 French companies per market cap, or the CAC 40.
The 17-year bearish trendline was broken 2 years ago and the bearish trendline has already supported it three times and now a Cup & Handle has been formed that could break out next week and become a potential asset to enter.
I will open sell after fake broke of key level 5658.000:
- 5658.000 is a historical 13-Month High.
- Many retail traders set their stop losses above such historical highs. Big players hunt for such places to accumulate volume.
- Potential profit will be in 5...20 times bigger than risk.
The CAC 40 is used as a benchmark index for funds investing in the French stock market and also gives a general idea of the direction of the Paris Bourse. The CAC 40 is similar to the Dow Jones Industrial Average in that it is the most commonly used index that represents the overall level and direction of the market in France. At the time of writing (Aug 2005), the CAC 40 included such companies as Renault, Michelin, L'Oreal and Vivendi Universal.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
