EssilorLuxottica Shares Drop 2% and Halt Their Rebound, Below the 50-Day Moving Average
The Franco-Italian optical giant slows down at mid-session in a modestly declining CAC 40. The stock interrupts the rebound that began at the end of May, without questioning the stabilization observed since the spring low. However, medium and long-term benchmarks remain distant above the current price.
EssilorLuxottica Shares Fall by 2% to €176.05, Despite a Nearly 3% Gain Over the Week
EssilorLuxottica shares lose ground in a CAC 40 that also drops by 0.3% to 8,178.99 points. The stock is among the biggest losers in the CAC 40 at midday.
This consolidation comes after a sharp rebound the previous day, which had brought the price back above €179. Over the week, the performance remains positive (+3.77%), as well as over the month (+3.59%).
The backdrop is less supportive: Brent crude rises above $92 following new US strikes against Iranian targets, reviving the energy risk premium and weighing on European consumer stocks.
Price Remains Stuck Below the 50-Day Moving Average at €183.96 After a Spring Drop of -14.76%
In terms of benchmarks, the stock holds above its 20-day moving average (€174.06) with a margin of about 2%, confirming the exit from the May low. However, the 50-day moving average at €183.96 remains a near ceiling, about 3.5% above the current price, while the 200-day moving average at €248.09 underscores the magnitude of the annual decline (-28.78% over twelve months).
The RSI at 55 remains neutral and does not indicate any particular tension. The technical resistance at €182.70 is the next threshold to cross to extend the rebound momentum, failing which the stock could retest its support at €165.45.
Regarding stock operations, the group noted in early June the capital increase related to the payment of the 2025 dividend in shares, with 957,954 new shares issued.
