TotalEnergies Shares Approach Key Resistance After a 45% Surge in Three Months
TotalEnergies shares are slightly up this Tuesday early afternoon, trading at 79.67 euros, a 0.31% increase from the last closing. The oil major has shown remarkable performance over the past three months, surging nearly 45% amid significant geopolitical tensions surrounding oil.
Market Dynamics and Upcoming Earnings
TotalEnergies' stock price is moving in line with a high-pressure oil market. Brent crude remains above 111 dollars this Tuesday morning, at 111.40 dollars, fueled by an ultimatum issued by Donald Trump to Iran. The American president demands that Tehran agrees to a ceasefire before Wednesday 2 AM French time, threatening retaliation against Iranian civilian infrastructures otherwise. However, Iran shows no signs of backing down, after several deadlines set by Washington have been ignored. This prolonged diplomatic deadlock keeps a sustained pressure on crude prices, which mechanically benefits large integrated oil companies. On the Paris market, the CAC 40 is up by 0.23% during the session, at 7,981 points. Shell PLC, a direct sectoral peer, shows a more significant increase of 0.64%. TotalEnergies' first-quarter 2026 results, expected on April 29, will be closely watched to assess the concrete impact of this Brent surge on the company's margins.
Technical Analysis
Technically, the stock is trading well above its main moving averages. The current price of 79.67 euros is 16.6% above the 50-day moving average (68.30 euros) and 38.8% above the 200-day moving average (57.40 euros), confirming a well-established upward trend in the medium and long term. However, the stock is approaching a resistance threshold identified at 81.02 euros, which could pose a short-term technical obstacle. The RSI, at 67, indicates a positive momentum without yet being in the overbought zone, usually defined beyond 70. Within the Bollinger Bands, the price is positioned in the upper part, at 77% of the range between the lower bound (66.70 euros) and the upper bound (83.56 euros), reflecting the strength of the recent trend. The performance over one year now exceeds 50%, while a slight setback of 1.67% over seven days indicates a very short-term consolidation phase.
