Eutelsat Shares Bounce 6.33% and Approach Key Resistance
Eutelsat Communications sees a significant rebound in Monday's session, reaching €2.8910 after a lackluster week. The stock is nearing the €2.94 resistance level, previously tested at the end of April. The next key event is the third-quarter revenue report scheduled for May 12.
A Rebound Bringing the Stock Close to Its Technical Resistance
Eutelsat Communications stock has gained 6.33% compared to its last closing price of €2.719. This movement reverses the downturn from the session on April 28, where the stock had dropped 4.3%. Over three months, the performance has reached 30.52%, despite a decline of 7.23% over the past year. The price is set at €2.8910, approximately 1.7% away from the identified resistance at €2.94. This threshold had previously halted the stock's progress at the end of April. The Bollinger bands place the upper limit at €3.02, with the price moving in the upper part of the channel. An RSI of 67 indicates a strong buying momentum, without crossing into the overbought territory. The stock has clearly moved back above the 200-day moving average, located at €2.71.
Focus on the Quarterly Report Scheduled for May 12
The financial calendar marks the third-quarter 2026 revenue for May 12, just over a week away. The annual results for 2025-26 are scheduled for August 7. Today's rebound goes against the trend of the Parisian market. The CAC 40 is down 0.49% in the session, and the SBF 120 is down 0.38%. European sector operators are also in decline, with Orange at -0.73% and KPN at -1.14%. The macroeconomic environment remains tense. The ECB kept its key interest rates unchanged on April 30, highlighting the simultaneous intensification of risks on inflation and growth, linked to the conflict in the Middle East and rising energy prices. Brent crude is trading around $108 per barrel. Whether or not the €2.94 zone is crossed will be the technical marker to watch before the quarterly publication on May 12.
