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The trends are looking very positive for both the German and French stock indexes (the DAX and CAC 40), Cerundolo Investment Research’s Guy Cerundolo said on Real Vision’s Trade Ideas.
Cerundolo’s technical model measures supply and demand in an asset. It finds exhaustion points and then measures demand when it starts to build, allowing him to project upside.
The Trade
Cerundolo projects another 5% upside in France’s CAC 40 from here:
However, the signals he uses don’t give a sense of timing. “We could be up 5% in a week or a month,” he said.
As for Germany’s DAX, Cerundolo sees at least another 6% upside, at which point he will have to analyze whether it’s an important inflection point of a pause:
His stop loss in both trades for new investors is the previous two-week low. The trends are looking “really good” in both indices, he added.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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