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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 203686, member: 80239"] [HEADING=1][JUSTIFY]CAC40 Technical Analysis by Solid ECN[/JUSTIFY][/HEADING] [HR][/HR] [HEADING=3][JUSTIFY]Current trend[/JUSTIFY][/HEADING] [JUSTIFY]The CAC 40 index is correcting down ahead of the start of the annual reports of companies, being at around 7133.0. The main wave of publication of financial results will start next week. Tech stocks have been leading throughout the week due to a correction in the bond market. Among the growth leaders are the shares of software maker Sopra Steria Group SA, whose annual profit forecast was significantly raised, exceeding 5B euros. Now the company's shares are growing by 5.67% and, apparently, the positive dynamics may continue. The main support for technology companies comes from the bond market, which continues a serious downward correction. At the beginning of this week, 10-year bonds traded at a yield of 0.298%, and now the figure has fallen to 0.229%. However, the most significant downtrend is shown by 8-year bonds of France, the yield on which only yesterday fell by 42.86%, and now has returned to the negative zone again at the level of -0.030%.[/JUSTIFY] [LIST] [*][JUSTIFY]The growth leaders in the index are Renault SA (+4.58%), Stellantis NV (+3.45%), STMicroelectronics NV (+3.09%), BNP Paribas SA (+2.50%).[/JUSTIFY] [*][JUSTIFY]Among the leaders of the decline are Kering SA (-3.61%), Hermes International (-3.17%), L’Oreal SA (-2.81%), Teleperformance SE (-2.67%).[/JUSTIFY] [/LIST] [HEADING=3][JUSTIFY]Support and resistance[/JUSTIFY][/HEADING] [JUSTIFY]The quotes of the asset are traded within the global ascending channel, having reversed downwards. Technical indicators maintain a weakening buy signal: the range of the Alligator indicator EMAs fluctuations began to narrow down and the histogram of the AO oscillator forms descending bars, being above the transition level. Support levels: 7074.0, 6720.0. Resistance levels: 7238.0, 7450.0.[/JUSTIFY] [ATTACH type="full"]19897[/ATTACH] [/QUOTE]
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