Eutelsat Shares Plunge Nearly 6% Breaking Support at €2.79
The satellite operator recorded the worst performance on the SBF 120 this Monday morning, going against the grain of a Parisian market buoyed by geopolitical easing in the Middle East. The stock erased part of the rebound initiated at the end of last week and broke a closely watched technical threshold. The profit-taking sequence that began at the end of May is gaining momentum.
Eutelsat Bottoms Out on SBF 120, Breaking Support at €2.79
Eutelsat Communications shares fell by 5.75% to €2.77 mid-morning, trailing the SBF 120 even as the broader index gained 1.12%. The stock broke through its support level at €2.79 during the session, a level that had previously contained recent declines, and is now trading below it. Today's drop brings the weekly decline to over 8% and nearly erases the 3% rebound recorded last Friday. The contrast with the market trend is stark: the rebound of the CAC 40 and SBF 120 is supported by the easing of oil prices, following the American-Iranian framework agreement extending the ceasefire and preparing for the reopening of the Strait of Hormuz. Brent crude is down nearly 4%, a movement benefiting the aerospace and cyclical sectors, but does not support the satellite sector.
Technical Setup Deteriorates After Over 40% Quarterly Rally
Below €2.79, the next identifiable marker is at the MM200 (€2.70), the only moving average still below the price, with a narrow gap of 2.5%. Above, the setup remains heavy: the MM20 (€3.44) dominates the price by nearly 20%, the MM50 (€2.97) by nearly 7%, illustrating the magnitude of the correction since the late May peak. The RSI at 44 remains neutral and does not send a signal of selling exhaustion. The movement is part of the digestion of a rally of more than 41% over three months, fueled in the spring by commercial dynamics around low orbit connectivity (Voimatel, Tototheo Global, Anuvu contracts). During the 9-month 2025/2026 report on May 12, the group highlighted a 50% year-on-year increase in LEO activity revenue, while pointing out a negative currency effect of 42 million euros. The holding of the MM200 at €2.70 is now the technical marker to follow.
