- The MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control.
- Upper Bollinger Band® currently at 7,448.26
CAC 40 rose 59.02 points to close at 7,322.39 Friday which makes for a move of 0.81%.
Concerning technical analysis and more specifically, trend indicators, the MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at 7,448.26, thereby suggesting that CAC 40 is becoming overvalued.
Overall, the technical outlook suggests CAC is likely to remain muted for the immediate future, with no clear-cut direction.
CAC shows positive signs, other assets are also on par: notably, Dow Jones rose 1.26% Friday and closed at 32,859. S&P 500 went up by 1.44% Friday, and closed at 4,109.31. Nasdaq went up by 1.74% Friday, and closed at 12,222.