Bolloré stock rebounds by more than 2% with RSI in oversold territory at 29
After a difficult session the previous day, Bolloré stock regains ground on Thursday and stands out clearly in a slightly declining Paris market. This rebound comes as CIC Market Solutions maintains a favorable view on the value, whose half-year results are expected within less than a week.
Bolloré among the strongest gainers of the SBF 120 in an unfavorable market context
The Bolloré share gains 2.2% to €3.71 during Thursday's session, ranking among the strongest gainers of the SBF 120 while the index declines 0.29% over the same period. This rebound follows the previous day's fall, when the security had broken its support at €3.77 following the announcement of a project to halt Bluebus electric bus production and a reorganization of Blue Solutions' battery activities. Over the week, the share remains down nearly 5%, illustrating the magnitude of the shock incurred since Tuesday. The market context nevertheless remains tense: the VIX advances more than 12% during the session, signaling increased volatility in markets, while the DAX and FTSE 100 both retreat by approximately 1.7% and 1.1% respectively.
An RSI in oversold territory and a buy recommendation at €5 ahead of half-year results on September 16
In terms of market indicators, the RSI at 29 places the security in oversold territory, reflecting the selling exhaustion accumulated over several sessions. The price remains below the 20-day moving average at €3.83 (variance of -3%) and below the 50-day moving average at €3.92 (variance of -5.26%), but holds above the 200-day moving average at €3.67, which constitutes a medium-term technical support level. CIC Market Solutions confirmed on September 9 a buy recommendation with a price target of €5.00, representing an upside potential of approximately 35% compared to the current price. Half-year results are expected on September 16, an event that will provide the market with concrete elements to reassess the group's trajectory following the ongoing restructuring of its electric mobility activities.
