Accor Shares Soar by 5.5% Breaking Through the €47 Resistance
The hotel group marks one of the strongest midday rises on the CAC 40 amidst a sharp decline in Brent crude prices and a significant rebound of the Paris index, following a de-escalation in geopolitical tensions.
Accor's Stock Performance
Accor's shares climbed 5.50% to €47.34 during the session, within a CAC 40 up by 2.08%. The stock broke through its resistance at €47.03 during the session and has maintained this level, after unsuccessful attempts in previous sessions. This increase is part of a broader upward trend that has seen the stock rise nearly 11% over three months, now 4.8% above the 20-day moving average (€45.27) and more than 7% above the 50-day moving average (€44.30).
The RSI at 51 remains neutral despite the magnitude of today's movement, indicating that the configuration is not yet in an overbought zone. This acceleration extends the bullish sequence that began in late May, when the stock had already crossed the €46.43 mark.
Brent Downturn and Geopolitical Easing Support Travel Stocks
Brent crude has fallen more than 5% in the session to $88.29, following Washington's cancellation of planned strikes on Iran and the mention of a possible peace agreement this weekend. This movement directly benefits players in the hospitality and travel sectors, sensitive to transportation costs and the purchasing power of travelers. The easing is accompanied by a significant drop in the VIX, which has moved from 22.22 to 18.74.
In this context, Accor ranks among the top risers on the CAC 40, alongside cyclical stocks. The next technical milestone is set higher, with the stock now having a comfortable margin above its three moving averages. The next resistance to watch corresponds to levels not visited for several months.
