CAC 40: focus on monthly MACD

Catégorie [ CAC 40 ]

Long term basis: not yet bullish

On a yearly basis, stochastic and MACD could continue to be overbought. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.

On a quarterly basis, LQ / UQ spread is shrinking. Our stochastic and MACD are oversold. Our moving averages trend is not bullish.

On a monthly basis, a type B is the status for our moving averages.

Idea: with an overbought status for our monthly MACD a bearish no-crossover could be the next status for our quarterly moving averages

Bet: MM will fail as a support if the next status for our monthly MACD is overbought.

R= UM (3980);    S= MM (3454), LM (2928)

Medium term: lower for 3 weeks or more

On a weekly basis, Bollinger bands spread is a reference one.

Idea: LW is our first support

Bet: with an uptrend for UW, MM could be an objective.

R= MW (3799);               S= LW (3583), MM (3454).

Short term: lower

On a daily basis, TAM tools are bearish.

Idea: use our MACD as a leading indicator

Bet: towards LW or below.

R= MD (3868);     S= LW (3583)

Conclusion: focus on monthly MACD.