Covivio Shares Rise Above 20-Day Moving Average, Gaining Nearly 2%

Covivio Stock Climbs to €55.00 in Early Afternoon Trading

Covivio's stock price has climbed to €55.00 in early afternoon trading, marking a 1.76% gain for the session, while the CAC 40 index has risen by 1.83% to 8,350 points and the SBF 120 index has gained 1.78%. This movement is part of a generalized rebound in the Paris stock market, following the ECB's decision to raise its three key interest rates by 25 basis points, bringing the deposit facility rate to 2.25%. This first increase in the cost of money in the Eurozone since September 2023 maintains pressure on valuations of rate-sensitive assets, including listed real estate, which does not prevent Covivio from benefiting from the day's index surge. Over the week, the stock has gained 2.61%, but remains down by 3.25% over three months.

The Stock Moves Above Its 20-Day MA but Still Encounters Resistance at Its 200-Day MA at €55.55

At €55.00, the price has returned above its 20-day moving average (€54.03), with a margin of 1.80%, after a consolidation phase around this benchmark. However, it remains in contact with its 50-day MA at €55.25 and below its 200-day MA at €55.55, representing a gap of about 1% which materializes a persistent technical ceiling. The RSI at 50 indicates the absence of buying or selling tension, consistent with a MACD that is still slightly negative but whose histogram has turned positive. The identified resistance at €57.10 limits the short-term rebound, while support is found at €53.10. On the corporate news front, the group unveiled at the end of May '030BLN, a 130-meter tower project in Berlin', and finalized in May the acquisition of a hotel in Torremolinos for €43.5 million, two operations that illustrate the dual office and hotel exposure of the property company.