Eramet Shares Rebound Over 2% from a Key Technical Support
The mining and metallurgical group is regaining momentum during the session, after several weeks of decline. The rebound is happening from a tense technical area, without yet challenging the underlying pressure that has been affecting the stock since mid-May.
Technical Rebound from a Low RSI, Below All Moving Averages
Eramet shares are up 2.11% at €49.32 mid-session, with the SBF 120 index up by 0.71%. The stock is among the top gainers in the broader index, after having reached a low point around the €48.30 support. This rebound occurs as the RSI had dropped to 32, a level indicating the exhaustion of selling pressure accumulated over the past weeks. However, the medium-term configuration remains degraded.
The stock price is below its MM20 (€53.90, a gap of -8.5%) and also remains under the MM50 (€54.34) as well as the MM200 (€56.94). Over a month, the stock has lost more than 15% and nearly 8% over the past week alone, after breaking its support at €53.40 on June 5, as documented during a previous session of decline. The resistance at €60.50, identified as a technical target in mid-May, remains out of immediate reach.
AI Partnership on Critical Metals and Capital Increase Approved by the AGM
Beyond the price movement, recent developments have been marked by the signing, on June 9, of a framework agreement between Eramet, Lithosquare, and the BRGM. The partnership aims to combine artificial intelligence, geological data, and field expertise to accelerate the identification of new critical metal deposits, a strategic focus for the mining and metallurgical group whose Senegalese production is still only at 30% of its nominal capacity following the February fire. On the financial governance side, the general meeting on May 27 approved a capital increase of 500 million euros, an operation now finalized.
This funding accompanies the appointment of Simon Henochsberg as the financial director, effective since May 26. Operationally, the schedule remains tight: the distant resistance at €60.50 and the support at €48.30 define a narrow corridor, within which the continuation of the movement is played out.
