Amundi CAC 40 UCITS Dist ETF Forecast

Amundi CAC 40 UCITS Dist ETF upgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)

CAC.PA Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.76%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Amundi CAC 40 UCITS Dist ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 80.15€. On a fall, the ETF will find some support from the short-term average at 76.79€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Amundi CAC 40 UCITS Dist ETF

Amundi CAC 40 UCITS Dist finds support from accumulated volume at 76.48€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 0.680€ (0.88%) between high and low. For the last week, the ETF has had daily average volatility of 1.05%.

Our recommended stop-loss: 72.28€ (-6.07%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (CAC.PA) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Amundi CAC 40 UCITS ETF Dist to open at 77.11€, and during the day (based on 14 day Average True Range), to move between 75.96€ and 77.94€, which gives a possible trading interval of +/-0.99€ (+/-1.28%) up or down from last closing price. If Amundi CAC 40 UCITS ETF Dist takes out the full calculated possible swing range there will be an estimated 2.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 76.48€ (0.61%) than the resistance at 77.65€ (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amundi CAC 40 UCITS ETF Dist ETF A Buy?

Amundi CAC 40 UCITS Dist holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.744 Hold/Accumulate Upgraded

Predicted Opening Price for Amundi CAC 40 UCITS ETF Dist of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.