Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

DAX and CAC 40 Near 2022 Highs, Breakouts Imminent?

Published 03/03/2023, 03:27 PM
Updated 07/09/2023, 06:31 PM

DAX and CAC-40 Indices Monthly Chart

As we look across the major global stock market indices, we see some divergences appear. And here, we highlight one that appears to carry some importance.

While the U.S. stock market indices are far from the 2022 highs, the same cannot be said for the German and French indices.

As you can see on the chart above, the German DAX and French CAC 40 are within a small percentage of 2022 highs (1).

This price level represents important breakout resistance. While a pause or pullback could occur, we must realize that a breakout to new highs would be very bullish for these European stock market indices.

A dual breakout would also send a positive message to stocks in Europe and around the globe. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.