Eutelsat Shares Break Below €2.59 Support Despite Contracts
The satellite operator begins Wednesday's session in decline, extending a profit-taking phase that began in late May. The stock breaches a closely watched technical threshold at the opening, while the Paris market remains balanced. The commercial momentum around low-orbit connectivity has not yet halted the correction.
The Stock Breaks Its €2.59 Support and Moves Away from All Moving Averages
Eutelsat's stock fell by 1.54% to €2.55 at the opening, after breaking through its €2.59 support during the session. The stock thus deepens its weekly loss to nearly 11%, while the CAC 40 and SBF 120 open balanced. This movement extends the break initiated on Monday below the €2.79 threshold, placing the satellite operator among the worst performers in the SBF 120 for the week. The technical configuration remains degraded. The price is now below its three moving averages, with a gap of more than 25% below the MM20 at €3.42 and nearly 15% below the MM50 at €2.99. The MM200, at €2.69, becomes the next benchmark to reclaim, with the stock now 5% below it. The RSI at 37 indicates seller exhaustion without yet tipping into oversold territory, while the MACD remains negative at -0.11.
LEO Commercial Dynamics Do Not Offset Stock Market Pressure on the File
Commercial announcements have nevertheless continued in recent days. On Monday, Eutelsat signed the CENTAURE contract with the Ministry of Armed Forces, worth up to €350 million over eight years, with a firm commitment of €138 million for the first four years. The day before, the group renewed its LEO partnership with Mercury in Angola for several million euros. These signings add to agreements reached since the end of May with Anuvu, Tototheo Global, and Voimatel. During the 9M 2025/2026 report on May 12, the company highlighted a 50% year-on-year increase in LEO activity revenue, while noting a negative currency impact of €42 million and a nearly stable operating revenue. Over three months, the stock retains a gain of nearly 24%, and is still up 44.5% over the year. The reconquest of the MM200 at €2.69 remains the next technical milestone for the file.
