Renault Shares Under Pressure: Oil Above $100 Revives Concerns

Midday Market Movements

At midday, Renault shares are trading at 30.45 euros, down 1.71% from last Friday's close of 30.98 euros. The stock is moving in line with the CAC 40, which is down 0.87% during the session, at 8,188 points. The SBF 120 also loses 0.87%. The session is marked by the repercussions of the announcement, this Monday, of a U.S. naval blockade against Iran. Brent crude jumped nearly 8%, crossing the $101 per barrel mark, fueled by fears of a major disruption in oil transit through the Strait of Hormuz. For an automaker like Renault, the rise in energy costs affects both production expenses and consumer purchasing power, two factors unfavorable to the demand for new vehicles. Other industrial stocks are experiencing similar pressure: Airbus is down 1.71% in the session, while Schneider Electric falls by 0.54%.

Technical Analysis of Renault's Stock

Technically, Renault's stock price is above its 50-day moving average (30.30 euros) but remains significantly below the 200-day moving average (33.67 euros), indicating a still fragile underlying trend despite a recent rebound. The RSI, at 62, suggests that the stock is approaching an overbought zone without having reached it yet, indicating limited upside potential in the short term unless a catalyst emerges to drive the movement. Moreover, the stock remains oriented downwards over a longer horizon: the performance over three months is at -8.89% and over one year at -28.76%. The financial calendar could provide new directional elements in the coming days, with the publication of the first quarter revenue scheduled for April 23, followed by the annual general meeting of shareholders on April 30. These events will be decisive moments to assess the commercial trajectory of the Renault group in an uncertain economic environment.