Edenred Shares Soar 10% Over a Month, Short Sellers Retreat
Edenred continues its stock market reconquest this Friday morning, in a balanced Parisian market. The employee payment solutions specialist confirms its momentum initiated since spring, as short selling pressure continues to deflate.
A Rise that Places the Stock Among the Best Performances of the SBF 120
Edenred shares gain 2.46% to €24.13, ranking among the strongest rises in the SBF 120 while the broader index remains nearly stable. The stock thus extends its rebound to nearly 5% over the week and 10% over the month, bringing its quarterly performance to 33.35%. The reconquest accelerated after securing the Gold EcoVadis medal for the second consecutive year, with a score of 84 out of 100. The momentum also follows confirmed mid-June interest from investment funds, which triggered a 15% surge in a single session. However, over the year, the stock is still down by 11.84%, illustrating the journey still needed to erase the previous decline.
Bullish Technical Configuration and Marked Retreat of Short Selling Positions
The price is significantly above its three moving averages, with a gap of 7.05% over the MM20 (€22.54), 9.04% over the MM50 (€22.13), and 20.35% over the MM200 (€20.05), indicating a bullish trend established across all horizons. The RSI at 58 still leaves room before reaching the overbought zone, while the stock approaches its resistance at €24.23, a threshold whose crossing would open a new technical leg. Concurrently, according to reviewed statements, the cumulative net short position reaches 5.46% of the capital spread across seven funds, down by 3.47 points over thirty days (peaking at 8.93%). This deflation reflects a covering movement by short sellers, who progressively lighten their bearish bet as the stock regains ground. The level remains high and warrants monitoring, though it should not be isolated from the rest of the stock narrative. The next step hinges on the stock's ability to break through the €24.23 resistance.
