CAC - the same pattern like in 2012

TVC:CAC40   CAC 40 Index
Right now we have a strong field of distribution on the market. The main point of CAC was in 7586 points. The index did not continue to move up and right now we see that direction is on the south.
Stocks of banks were very high and we have a distribution on UniCredit or Credit Agricol. The stocks did not move up all the time and we had double highs on UniCredit.
I suppose that in June or July 2023 we will have a little "correction" on the market. After that there should be a little sign up till the September and then there can be a little correction to this moment. And with start of 2024 we will see a move up on the index.

Support level right now is 6862. This is a key point. In in the 6217 we will see a buying power and bulls. On the 6862 there is a line. Below it there is a field for bears and a accumulation point.

I am right now interested in Renault - as a example of french cheap stock of car manufacture. I saw that the pattern on this stock is very similar like in pattern of 2009 - 11 - 12. I wrote a idea for Renault.

2009 - is right now 2020 and covid bottom. Then we have a move up after it, war inside, and I suppose that economy will move ahead.

Inflation is moving down, so the rates will go down. After that the production will move up. People will stop to save money and will start to give it to other people to buy goods and economy will prosper from it.

It is a simple idea but I suppose that I present it clear.

I suppose that banks stocks will stop in correction in some point and will not a make second bottom on 09.22 lows. Only maybe Deutsche Bank will move down to the bottoms and will be a very cheap stock to buy.


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