Carrefour Stock Rebounds Nearly 2%, Among Top Gainers in CAC 40
The retailer is regaining color this Monday morning after a challenging end to the week. The stock is among the top gainers in the CAC 40 at the opening, while the Paris index moves in the red. This rebound comes after a series of sessions marked by a sharp weekly decline.
A Rebound of Nearly 2% Mitigates a Weekly Decline of Over 5%
Carrefour's stock gains 1.74% to €15.82 at the opening, while the CAC 40 drops 0.14%. The stock ranks among the highest gains in the index, behind STMicroelectronics. However, this rebound should be put into perspective: over the past week, the stock has lost 5.41%, weighed down notably by a perception downgrade in mid-June that had caused the stock to plunge by 5.5%. Over a month, the decline reaches 8.42%. However, the annual performance remains strong, at over 24%, and the price maintains a comfortable margin of 8.13% above its 200-day moving average (€14.63), a long-term trend marker preserved despite the recent correction.
Fragile Technical Setup Below Short-Term Moving Averages, €15.43 Support on Watch
Today's rebound occurs after testing the support at €15.43, a level that acts as a cushion in the recent low zone. The stock remains below its 20-day moving average (€16.20, a gap of -2.35%) and its 50-day MA (€16.61, a gap of -4.76%), maintaining a degraded short-term configuration. The RSI at 37 reflects the selling fatigue of recent sessions without indicating a clear oversold condition. Based on the expected earnings per share, the stock is priced at about 9 times the earnings for the current fiscal year according to the consensus of surveyed analysts, a multiple that places the retailer within a contained valuation range. Reconquering the 20-day MA at €16.20 would constitute the next observable milestone to confirm the rebound attempt.
