Hello,
There is a short term buy opportunity for the France 40 on lower timeframe. The France 40 is forming a flat pattern which is a continuation pattern for the previous impulse experienced from mid-April to late May. We see an opportunity for short term investors to enter at the current price with a target at the top.
Additionally, the MACD (Moving Average Convergence Divergence) is showing early signs of a bullish zero-line crossover, reinforcing the bullish sentiment and adding further conviction to the setup.
We identify 8,206 as a potential upside target for investors willing to capitalize on this opportunity. For prudent risk management, a stop-loss order placed just below the lower boundary of the triangle pattern is advisable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
There is a short term buy opportunity for the France 40 on lower timeframe. The France 40 is forming a flat pattern which is a continuation pattern for the previous impulse experienced from mid-April to late May. We see an opportunity for short term investors to enter at the current price with a target at the top.
Additionally, the MACD (Moving Average Convergence Divergence) is showing early signs of a bullish zero-line crossover, reinforcing the bullish sentiment and adding further conviction to the setup.
We identify 8,206 as a potential upside target for investors willing to capitalize on this opportunity. For prudent risk management, a stop-loss order placed just below the lower boundary of the triangle pattern is advisable.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.