Alstom Shares Drop Over 2% and Move Away from Technical Benchmarks
The railway manufacturer starts the week on a downturn, in a Paris market trending red. The stock is moving away from its short-term technical benchmarks and remains hampered by a significant three-month decline, despite robust commercial activity since spring.
The Stock Falls Below its 20-Day Moving Average and Remains Far from its MM200
Alstom shares fell by 2.36% to €16.74 mid-morning, in a CAC 40 down by 0.7% and an SBF 120 down by 0.67%. The stock is among the biggest losers in the SBF 120 index.
The price has fallen below the MM20 at €17.09 (a gap of -2.05%) after attempting to hold it last week. The distance is particularly significant from the MM200 at €22.69, with a gap of -26.22% illustrating the depth of the quarterly decline (-31.2%).
The RSI at 42 remains in the neutral zone and does not provide an extreme signal. The identified support at €16.32 is approaching: it will be the next graphical benchmark if the decline continues.
Strong Commercial Momentum Insufficient to Offset Quarterly Drop
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The stock remains under pressure despite positive industrial news over the past three weeks. On June 1st, the group announced the first installment of €69M from a framework contract worth €219M for Queensland's rail, ahead of the 2032 Olympics. A few days earlier, the TGV-M developed with SNCF Voyageurs had received its European authorization, paving the way for commercial deployment in the summer. It is worth noting that the annual accounts published on May 13th showed €27.6 billion in orders (+39%), but an adjusted operating margin fell to 6.1%, a point that continues to weigh on the stock. Based on the consensus of analysts surveyed, the stock is trading at about 9.8 times the earnings of the current fiscal year and 7.9 times those of the next.
Depuis ma prise de fonction, ma priorité est de renforcer l’exécution opérationnelle.
Le chiffre d'affaires a atteint 4 734 millions d’euros, en hausse de 4,9 %.
Risks mentioned
Absence de perturbations supplémentaires liées au contexte géopolitique.
Impact des fluctuations des droits de douane.
Opportunities identified
Bonne dynamique commerciale dans la région Afrique, Moyen-Orient et Asie centrale.
Anticipation d'une accélération de la dynamique commerciale au cours du deuxième trimestre.
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
