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April 13, 2023
- The CCI indicator stands above +100
- Upper Bollinger Band® currently at 7,482.68
CAC 40 is on a 7 day bullish run gaining 385.44 points (6.69%). Today continued on the same track for CAC 40 — CAC 40 rose 83.83 points to close at 7,480.83 today which makes for a move of 1.13%.
The index has been trending positively for about a month. CAC hit a significant low of 15.42 around 6 months ago, but has since recovered 47,870%.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as CAC price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, CAC's upper Bollinger Band® is at 7,482.68, this is a slight indication of a slowdown.
Notwithstanding CAC's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – Germany Consumer Price Index released today at 06:00 UTC with a figure of 0.8%, while the previous figure was 0.8%.
CAC 40 shows positive signs, other assets are also on par: notably, Nasdaq rose 2% today and closed at 11,929. Dow Jones is trading around 34,030 after ending today's session at 33,646 (up 1.14% today). S&P 500 went up by 1.33% today, and closed at 4,146.22.
Upcoming fundamentals: Spain HICP (YoY) (Mar) is scheduled for tomorrow at 07:00 UTC.
