Bekaert Shares Plunge 13.84% Breaking Through Technical Supports
The share of the Belgian group specialized in steel wires experienced a sharp correction on Tuesday, amid a generalized downturn that has been accelerating for several weeks. This session marks a clear technical break, while the Paris market showed only a limited decline.
Significant Drop in Bekaert's Share Price
Bekaert's share price collapsed by 13.84% on Tuesday, closing at €33.30, down from €38.65 the previous day, thus erasing nearly €5.35 in a single session. The traded volume represented 0.43% of the capital, a level that indicates significant participation without being exceptional, but sufficient to amplify the movement in a bearish direction. This decline is part of a deteriorating dynamic: the stock now shows a loss of 15.91% over the last seven days and is down 10.12% over three months. Over the past year, the performance remains negative at -7.91%, in stark contrast to the CAC 40, which has gained 4.51% over the same period. It is noteworthy that the Paris index only lost 0.18% during this session, highlighting the specific weakness of the stock.
Breaking Below Support Levels
The stock has broken below its support threshold at €37.80, a level that had previously acted as a technical floor. It now trades significantly below its 50-day moving average, set at €38.61, indicating a seller's pressure that is becoming entrenched in the short term. The price is also below the lower Bollinger band (€38.28), a configuration that reflects an extension of the bearish movement and increased volatility, although this remains moderate over a month at 4.73%. The Relative Strength Index (RSI) is at 37, approaching the oversold zone (30), but has not yet reached it, suggesting that the stock could still face downward pressure before a possible technical rebound.
Negative Momentum Indicators
Momentum indicators further confirm this negative trend. The MACD histogram at -0.11 remains in negative territory, while the MACD line (0.10) moves below its signal line (0.20), indicating a weakening of the upward momentum. The Chaikin Money Flow (CMF) shows a slightly positive value at 0.05, indicating very limited buying pressure, insufficient to reverse the trend. The On-Balance Volume (OBV) is strongly negative at -206,095, reflecting an accumulation of selling volumes over the recent period. Finally, the stock's beta, close to zero (-0.02), indicates an almost absence of correlation with market movements, partly explaining the extent of the observed decline while the CAC 40 remained relatively stable.
