Engie stock breaks through its support at €23.91 and posts -14% over three months
Engie closes Monday, September 14 session in the red, with the CAC 40 also trending downward. The security now clearly trades below all its key moving averages, extending a bearish dynamic that has taken hold since summer.
A support broken during the session that crystallizes pressure on the security for several weeks
The Engie stock closes at €23.58, declining 1.67% from the last close on Friday, September 11. During the session, the security broke through its support at €23.91, settling below it, which extends a move that had already touched this level in early September. Over one month, the decline reaches 9.76%, and over three months, 14.29%.
The session context is not helping matters: the CAC 40 surrenders 0.86% during the session, in a market weighed down by the prospect of a Fed rate hike on Wednesday and a series of monetary decisions expected throughout the week. The ECB had raised its key rates by 25 basis points on September 10, bringing the deposit facility to 2.50%, in an environment where inflation remains above its target. Persistent tension in bond markets, combined with Brent oil trading back above $107 per barrel amid fresh Houthi attacks and the closure of the Saudi Eastern-Western pipeline, weighs on energy stocks exposed to supply costs and interest rate expectations.
An RSI at 34 in oversold territory, and the security clearly below its long-term moving averages
On the technical indicators side, the RSI at 34 signals a configuration close to oversold conditions, without however crossing the 30 threshold. The security trades below its three moving averages: the 20-day MA at €24.74, the 50-day MA at €26.01 and the 200-day MA at €25.98, with respective gaps of 4.69%, 9.34% and 9.24%. This configuration illustrates selling pressure that has persisted since summer. Over one year, however, Engie still shows a gain of 29.56%, reflecting a solid performance prior to the summer correction.
When publishing first-half 2026 results on July 31, the group had raised its guidance for recurring net income for fiscal year 2026, and had crossed the threshold of 10 GW of electricity storage capacity worldwide in early September. These positive fundamental elements have not been enough to arrest the downtrend, in a context of rising rates and persistent geopolitical tensions. The resistance at €27.11 now represents a gap of more than 15% above the current price.
