French stocks ETF looks poised to resume uptrend following election, according to the charts

The French stock market has been subject to volatility surrounding political news, resulting in a sharp pullback in June. The CAC 40 , the primary benchmark, has corrected nearly 10% since peaking in March. Despite the pullback, a primary uptrend remains in place for the CAC 40, in addition to the related iShares MSCI France ETF . Both proxies for French stocks appear to be finding their footing, which suggests that the market is welcoming the latest news regarding the election.

shows signs of downside exhaustion near key support, a natural place for a rebound, which would be constructive for French benchmarks. Additionally, French energy giant TotalEnergies has an intermediate-term oversold 'buy' signal that suggests its correction has matured. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here .

All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Click here for the full disclaimer.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Katie Stockton on whether it's time to start worrying about the weak market breadthKatie Stockton breaks down the recent concerns about market breadth.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »