CAP.FR - Weekly
Our expectations - Upward trend, retracement to support zone. Opportunity for long positions with stop below the last bottom, on €102.50.
Alternative scenario: Breaking the support zone and keeping the price below it will break the positive scenario and are more likely to see a decrease in Capgemini's value.
Comment: Upward trend, correction to support zone formed by main upside diagonal, horizontal, 50SMA and 23.6% Fibonacci trend correction. Price Action: A reversing bar that takes the price over 23.6% Fibonacci and 50SMA and at the same time shows the strength of the bulls. Indicators are also supported in support of the larch. 50 and 200SMA remain beached - the trend remains in place. CCI14 crosses -100 from bottom up while CCI50 remains above 0 - Highly positive signal indicating end of corrective wave.
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