IBEX 35, Forecasting a 50% decline for Spanish equitiesIBEX 35 index showing weakness and will probably tank more than 50%.
Indices Europe
CAC40 - Limited upside within the wedge FRA40 - Intraday - We look to Sell at 5170 (stop at 5220)
Buying pressure from 5012 resulted in all the initial daily selloff being recaptured. Due to an Ending Wedge formation, we continue to treat extended gains with caution. Bespoke resistance is located at 5174. The trend of higher highs is located at 5200. The formation has a measured move target of 4681.
Our profit targets will be 4685 and 4650
Resistance: 5170 / 5200 / 5230
Support: 4947 / 4682 / 4650
CAC40 - Selling rallies near the wedge top FRA40 - Intraday - We look to Sell at 5160 (stop at 5210)
Buying pressure from 4940 resulted in all the initial daily selloff being recaptured. Buying posted in Asia. Bespoke resistance is located at 5165. The trend of higher highs is located at 5172. Preferred trade is to sell into rallies.
Our profit targets will be 4885 and 4850
Resistance: 5162 / 5165 / 5230
Support: 4885 / 4800 / 4682
CAC 40 : Swing, Investment 100% Price ActionCAC 40 : Follow the uptrend.
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France's CAC40 This has been fun going through the different markets because I see hybrids between various price actions. This market is a little difficult to settle on. I like this bear flag on the local scale. The last couple of days almost makes it look like it wants to go up again to retest that upper channel, but considering how bearish the other markets look, I doubt that will happen. And I have circled a similar "scoop" from a few weeks ago that promptly reversed and went lower.
The intermediate chart looks much like the Dow, and Dax. Look for that broadening pattern to be retested and to ultimately fail.
Long-term chart is weird. Just imagine having gone nowhere in price for thirty years. Oy. That's something we're just not accustomed to here in the States. That said, this huge triangle could go either way. It will almost certainly retest the lower orange channel.
Cac 40Slowly but almost surely the Cac 40 will raise again.
Until a second wave is acted we have no worries about the fact, the BCE and the FED will give enough strengh to the markets.
The job here is to find an entry point, nothing else.
Which entry point will be the best ?
SPX500 Daily Range 13:46:08 (UTC) Mon Jun 15, 2020SPX500 Daily Range 13:46:08 (UTC) Mon Jun 15, 2020
CAC40 - Looking for a Gartley to produce FRA40 - Intraday - We look to Sell at 5190 (stop at 5230)
Bespoke resistance is located at 5206. Selling pressure from 5230 resulted in all the initial daily gains being overturned. Buying posted in Asia. Bespoke support is located at 4896. Levels close to the 50% pullback level of 5141 found sellers. Expect trading to remain mixed and volatile. Preferred trade is to sell into rallies.
Our profit targets will be 4997 and 4980
Resistance: 5141 / 5192 / 5230
Support: 5080 / 5052 / 4995
LVMH Long IdeaLogic: in confirmed uptrend following steep correction & 2 month sideways consolidation.
Entry: €365 or better, (ideally to be bought on a pullback into 200D EMA in the €360-€365 area).
Stop: €343
Risk: -6.03%
Target: €403 initially (gap close), longer term €426, yearly R1 area.
Gain: +10.41% & longer term +16.71%
Note: longer term play in the strongest luxury name.
SANOFI (SAN) Catching Bullish Wave
hey guys,
after a bullish breakout of a major falling trendline, the price is consolidating in a horizontal range.
it looks like buying volumes are accumulating to breakthrough the minor resistance and go higher.
to jump in wisely wait for a 4H candle close above the range, then buy on a pullback or aggressively aiming at:
91.3
92.4 levels
good luck
if the market breaks below the range, setup will be just invalid.
CAC 40 (FRA40) could hit 5140 in wave YThe French index started second leg of double three WXY correction with wave Y, which could hit 5140.
This level represents the equal distance of Y=W and also the 61.8% Fib (5166).
Time for consolidationPretty bullish trend for the airline industry, but we've been rising pretty fast last week and a pullback would make sense. We have resistance here at 81ish.
However, I feel it's risky to short with all of the greed and optimism out there right now.
AXA Long IdeaLogic: close & re-test of 50D EMA puts AXA in intermediate uptrend following significant drop and 2 months sideways consolidation.
Entry: €17.00- €17.20
Stop: €15.50 (can consider lower if longer term outlook)
Risk: -9.88%
Target: €20.50 & ultimately €23.00 yearly pivot retest from February drop.
Gain: +19.48% & longer term target +33.72%
Note: among highest rated European insurers with solid balance sheet and strong upside potential. Risk to upside thesis stem from claims due to Corona closures, lawsuits etc...
BEWARE OF PULLBACK ON RESISTANCE - CAC40 - 30MNThanks for your likes and shares! Much appreciated!
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The market is in a recovery mood . The actual range can possibility be a good entry for a short direction profitable trade.
The upper level can possibly see a nice entry for long direction trade, BUT, beware of pullback because it is a strong resistance line. If pullback happen it will be a even better entry for Short Direction Trade!
CAC$) - Faces the 161.8% barrierFRA40 - Intraday - We look to Sell at 4793 (stop at 4840)
Majority of the initial daily gains being overturned. Bespoke resistance is located at 4725. The rally has posted an exhaustion count on the intraday chart. The 161.8% Fibonacci extension is located at 4793 from 4193 to 4564. Preferred trade is to sell into rallies.
Our profit targets will be 4564 and 4400
Resistance: 4793 / 4800 / 5163
Support: 4564 / 4400 / 4193
Rising Wedge signifying continuation of downtrend Rising wedge on the 4h, could this possibly lead to a continuation of the broader downtrend in the coming month?
