ACA is forming a bullish Pattern ACA Are doing great profits and high Return as the inflation rate is declining. Backed up by solid records, I see good potential for this stock.
XCAU trade ideas
ACA - 10 months ASCENDING TRIANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
Double bottom in Credit AgricoleThe algorithm shows an opportunity to buy credit agricole if the double bottom pattern breaks.
The double bottom pattern is a bullish reversal pattern that appears on a chart as two distinct bottoms at roughly the same price level, separated by a peak in between. The pattern is formed when the price of an asset falls to a support level, bounces back up, falls back down to the same support level, and then bounces back up again. This pattern is considered bullish because it suggests that the asset's price may be about to start rising again after a period of decline.
One way to trade the double bottom pattern is to wait for the price to break above the peak that separates the two bottoms. This is known as the "breakout." Once the price breaks above the peak, it is a signal to buy the asset. Some traders may also set a stop-loss order below the second bottom, to limit their potential losses in case the price does not continue to rise.
So, a possibility is to wait the break of 10,2 level and look to sell in the next area where volume increase and we also find supports & resistances (11,50€).
A break of the small black line could also be a great point to buy, but it's not a confirmation of the larger double bottom pattern.
$ACA - Reversal with +15% upsideTechnical Analysis (TA)
Weekly bottomed out with crossover on RSI and William %R)
Daily breakout has signaled a shift in momentum. However, there has been previous resistance at the 100EMA level so I expect this to come back down to EUR 9.2 for a higher low before a push upwards to $11 +
Price Target
Entry: 9.10-9.30
Target 1: 9.76
Target 2: 10.45
Analysts Target: 11.40
Fundamental Analysis (FA)
Mediocre quality screen on financial metric.
Strong earnings and dividends = key catalyst in this upward momentum.
Credit Agricole SA (ACA) - Impulse wave patternCredit Agricole SA (ACA- france) is in ABC zigzag down move in daily time frame, which is in C wave after B wave over as double zigzag move. In 1 hr time frame, It is in 2nd wave abc correction, where c wave is under progress. Wait for one more swing high in 10 min time frame to complete the c wave up of 2nd wave. The invalidation level 9.53 must hold to confirm the bigger 3rd wave of C down. In weekly time frame, it is choppy and under performing the CAC40 index, so as good candidate to short sell.
Credit Agricole (CAGR - Paris) - ABC zigzag wave pattern Credit Agricole (CAGR - Paris) is moving down in ABC zigzag wave. B was complex flat wave, which was over and its high should be the ideal stops for sell trade for wave C down. but wait for pull back to get in the trade.
CREDIT AGRICOLE - SHORTFrench Bank Credit Agricole seems to be in a big trouble.
Let's short it till 7.5-7.7
See you soon guys,
Simone Siesto
MA (50) and MA(200) not satisfying, still buyLooks like MA (50) and MA(200) are not in correct buy position. The dorection is perfect for buy. MACD and RSI are on downward trend., but what do you guys think?
$ACA vers des plus hauts de l'annéeCREDIT AGRICOLE
les objectifs de la sortie du triangle matchent avec les hauts des canaux.
Credit Agricole: Time to buy European banks?Related to the reflation theme described in my view "Crude Oil: The Most Important Chart in the World".
European banks trade at a 60% discount to the market (only seen during crises of 2008 and 2012) and represent a 'value' play amidst the prospect of higher rates resulting from the reflation theme.
European stocks also trade at 'crisis lows' versus their US counterparts, and represent 'value'
Credit Agricole stands out as one possible play on this theme and appears to have found support above 7.29 (2012 - 2015 61.8% retracement level)
Though concerns linger over the future of the EU and issues within the Italian banking sector, the uncertainty over 'brexit' is behind us and markets are now looking forward with continued support and 'safety nets' for the banking sector
Consider a long entry with a stop below the 6.92 'brexit' pivot targeting a move towards €10 and possibly a break above €14.50 longer-term if the "Crude Oil: The Most Important Chart in the World" theme transpires.
