ALTEN Stock Crosses €65, Reaching a New High Since February

An Acceleration That Positions the Stock Above Its Three Moving Averages

ALTEN stock has gained 2.77% to €66.80, among the strongest rises in the SBF 120. The session is part of a favorable sector dynamic: Dassault Systèmes is up 6.09%, Capgemini 5.49%, and Sopra Steria 4.03%, driving the entire digital services sector. The CAC 40 has increased by 0.36% and the SBF 120 by 0.30% at the same time.

The movement extends the rebound that began in early May, with a gain of 6.29% over the week. The stock has moved back above its 200-day moving average at €65.70 (a gap of +1.67%), after having crossed its 50-day moving average at €57.86 in May, currently exceeding it by more than 15%. The crossing of the €65 resistance, already tested in May (as during the break of €63.55), is accompanied by an RSI of 68, approaching the overbought zone without entering it.

A Moderate Valuation While the Stock Remains Down Over the Year

Despite the recent rebound, the stock is still down 8.74% over twelve months. Based on the expected earnings per share, the stock is priced at about 9.2 times the profits for the current fiscal year and 8.3 times those for the next fiscal year, according to the consensus of surveyed analysts, with an expected EPS growth of 10.9% from one year to the next. This moderate multiple accompanies the recovery of the stock after several difficult months.

The stock market sequence this spring was marked by a succession of technical crossings: return above €60 in early May, breaking the €62.30 zone, then the €63.55 zone. The stock is now attacking the €65 zone with a new high since February. The next level to watch is at the contact of the €65 resistance threshold that has just been crossed, now brought back as technical support.