Accor stock rebounds but still down 7.5% over three months

A technical rebound that places the stock above its reference moving averages

Accor stock gains 1.35% to €46.52 in intraday trading, with the CAC 40 up 0.3%. The stock thus moves back above its three moving averages: the 20-day MA at €46.07, the 50-day MA at €46.24 and the 200-day MA at €46.03, with gaps remaining modest (between 0.6% and 1% depending on the reference). This configuration is recovering ground following a nearly stable week and a slightly negative month (-0.45%).

Over three months, performance remains sluggish at -7.29%, illustrating the depth of the decline suffered this summer. Resistance at €47.47 now constitutes the next threshold to overcome, while support at €45.11 remains well below current prices. The RSI at 48 reflects a neutral configuration, without strong signals in either direction, leaving today's advance in a technical register without visible exhaustion.

Short positions sharply higher over one month, buyback program in execution

According to filed declarations, three funds collectively hold 2.60% of Accor's capital sold short, a proportion that increased by 1.10 percentage points in thirty days (it stood at 1.50% a month ago). This acceleration of the bearish bet signals that institutional investors have reinforced their positions against the stock during the recent period, although the precise reasons cannot be determined. It deserves to be monitored over time without being interpreted in isolation, particularly as the cumulative amount remains below 3% of capital.

In parallel, Accor is executing a €225 million share buyback program announced on July 30, 2026: approximately €40 million had been repurchased as of September 25, representing nearly 18% of the program. Over twelve months, the group repurchased €214 million in shares, representing 2% of market capitalization. Analyst consensus warrants monitoring in this context: Morgan Stanley had raised its opinion to "overweight" with a €55 target during a publication dated September 4, leaving notable upside potential compared to current prices. Support at €45.11 remains the low reference point to watch should the movement reverse.