Carrefour Stock Continues Its Rise: +22% in One Year, Crossing a Key Technical Threshold
Carrefour's stock shows a rise of 1.79% at midday this Tuesday, March 31, trading at 15.905 euros on Euronext Paris. This advance is part of a broader upward trend, with the stock gaining 6% over the past week and nearly 12% over three months. Meanwhile, the CAC 40 is up 0.70% at 7,826.63 points, amid geopolitical tensions in the Middle East.
Technical Breakthrough in Carrefour's Stock
On this Tuesday, Carrefour's stock price exceeded the upper Bollinger band, set at 15.82 euros, establishing itself at 15.905 euros. This breakthrough indicates a bullish acceleration beyond the usual fluctuations of the stock over the last twenty sessions, a signal that calls for vigilance regarding a possible temporary excess. The nearest technical resistance is at 16.15 euros, a level that the stock has not yet reached. Moreover, the 50-day moving average, currently positioned at 15.05 euros, remains significantly below the current price. This gap confirms the bullish trend that has been underway for several weeks. Over one year, the growth reaches 22.1%, illustrating a substantial recovery in the stock market valuation of the retailer.
Rising Oil Prices Pose Potential Risks to the Retail Sector
The surge in Brent crude, which crossed the $115 threshold on Monday, March 30 due to military escalation involving the Houthis in the Middle East, represents a potential risk factor for the entire retail sector. The skyrocketing oil prices affect logistical costs and can fuel inflationary pressures on supply chains. Despite this context, Carrefour's stock is moving against the trend, showing a significant gain during the session. The CAC 40 also manages to progress this Tuesday, while the SBF 120 is up 0.75% during the session. Within the consumer staples sector, dynamics remain mixed: L'Oréal is up 0.48% while Unilever is down 1.79%. Carrefour's nearly zero beta (?0.02) historically reflects a low correlation of the stock with general market movements, which may partly explain this relative resilience in a deteriorated geopolitical environment. The VIX, a volatility indicator, showed a high stress level at 31.05 points at the close of Friday, March 27, up 13.16% in one session.
