Carrefour stock breaks through resistance and gains 6% in one week

A resistance breakout that extends a solid rebound over one month

The Carrefour share gains 2.24% to €16.64 during the session, clearly extracting itself from a CAC 40 that barely loses 0.06%. The stock broke through its technical resistance upward during the session and is holding above it, consolidating a movement that brings the gain to over 6% over the past week and nearly 5.5% over the month. The three reference moving averages are now below the price: the MA20 at €15.86, the MA50 at €16.07 and the MA200 at €15.53, with respective gaps of nearly 5%, 3.5% and 7% — a configuration that reflects consistent bullish momentum across all timeframes.

The RSI at 57 remains in neutral territory, without overbought signals, leaving room for further gains before any potential buying fatigue. The next identified resistance is located at €17.46, approximately 5% above the current price.

Carrefour, a defensive value favored in a tense geopolitical environment

Against the backdrop of Middle East tensions and Brent crude around $97 that revives inflationary concerns, large-scale retail stocks are regaining particular appeal as relative safe havens. The ECB is also to decide on Thursday on a possible 25 basis point rate hike, which maintains some caution on cyclical sectors and mechanically reinforces the appeal of defensive profiles. Carrefour had already played this role in the week of September 1st, at the top of the CAC 40 in the face of geopolitical tensions, then with a 2% gain on September 1st.

Over one year, the stock shows a gain of 37%, one of the strongest in the CAC 40. According to the consensus of listed analysts, the value trades at approximately 9.6 times current fiscal year earnings, a modest multiple for a retailer that anticipates earnings per share growth of 8.2% from one fiscal year to the next. The support at €15.60 remains well below the price, and the next level to watch remains the resistance at €17.46.