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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 72%

Breaking News: Markets News

Markets,United States,Stockton

Katie Stockton breaks down the chart in the iShares MSCI France ETF (EWQ).

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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