EssilorLuxottica Shares Slide to €164.15, Hitting a New Low for 2023
The stock of the Franco-Italian optical giant drops 1.71% to €164.15 mid-morning, marking a new unprecedented low since 2023. The share price touched €162.50 during the session, below the previous low of €165.75 set in 2023. The session is unfolding in a CAC 40 down by 0.63% at 8,005.89 points.
A New Three-Year Low for the Stock
EssilorLuxottica ranks among the top five declines in the CAC 40 this Tuesday, positioned 37th out of 40 stocks. The stock continues a deep bearish sequence: down 5.25% over the week and 34.55% over three months. Over a year, the decline reaches 32.25%. The session low of €162.50 breaks the successive lows of recent weeks. On May 5th, the stock had set a two-year low at €170.40, already described as a significant low point. The breach of the €167 threshold (identified as support) intensifies the downward movement. A rebound attempt to €177.55 last week failed, with the stock quickly losing regained levels.
Marked Technical Overselling, Next Meeting on July 28
The share price is moving at the lower end of the Bollinger Bands, near the lower limit at €159.62. An RSI at 27 indicates a clear oversold condition. The MM50 (€198.45) remains 17.28% above the current price, illustrating the extent of the deviation from the medium-term dynamic. The sectoral context provides no support: discretionary consumer stocks are performing inconsistently, with Kering and LVMH respectively up by 1.19% and 0.92%, while EssilorLuxottica continues another session in the red. Operational growth remains solid, however: the group had posted at the end of April a quarterly revenue increase of 10.8% at constant rates, totaling €7.127 billion. The next key date is set for July 28, 2026, with the semi-annual results.
