Haffner Energy Stock Rises 25% in a Week Despite a 89% Decline Over the Year
Haffner Energy's stock is up 6.86% at midday this Tuesday, March 31, at 0.067 euros. The renewable fuel specialist benefits from a tangible catalyst with the announcement of the approval of its 2024 Research Tax Credit. This increase extends a rebound of 25.7% over the past seven days, although the stock remains down nearly 89% over the year.
French Tax Administration Approves Haffner Energy's Research Tax Credit for 2024
Haffner Energy announced this Tuesday that it has received approval from the French tax administration for its Research Tax Credit for the fiscal year 2024. This decision recognizes the scientific and technical nature of the R&D work conducted by the group, which specializes in the production of hydrogen and renewable fuels from biomass. Financially, this approval provides a significant boost to the company's cash flow, a crucial issue for a small-cap company still in the development phase. The financial calendar also schedules the publication of annual results on June 25, a deadline that should provide more visibility on the group's trajectory. In a context marked by the surge in oil prices, following the breach of the $115 per barrel of Brent due to military escalation in the Middle East, Haffner Energy's focus on alternative energies could attract attention. However, it should be noted that major oil companies such as TotalEnergies (-0.36%) and Shell (-0.12%) are slightly down in the session, indicating that the market remains cautious in the face of geopolitical instability.
Technical Analysis: Stock Now Above Both 20 and 50-Day Moving Averages
Technically, the stock is now trading at 0.067 euros, above its 20 and 50-day moving averages, both positioned around 0.05 euros. This breakthrough confirms the short-term bullish acceleration that began in recent weeks, bringing the three-month performance to nearly 30%. However, the price remains well below the 200-day moving average, which is at 0.17 euros, highlighting the persistence of a fundamental bearish trend. The stock is approaching its major technical resistance at 0.07 euros, which also corresponds to the upper Bollinger band. This level is a key threshold: a sustained breakthrough could alter the graphical configuration, while a rejection could lead to a retreat towards the support identified at 0.03 euros. The RSI, at 56, indicates a neutral to slightly positive dynamic without overbought conditions, theoretically leaving room before overheating. The CAC 40 is up 0.73% in the session, providing a generally supportive market environment for French stocks this Tuesday.
