Eutelsat Shares Slide Further, Breaking Support at €2.38

The Stock Breaks Its Support at €2.38 and Falls Among the Worst Declines in the SBF 120

Eutelsat Communications shares fell 3.62% to €2.34 during the session, marking one of the sharpest declines in the SBF 120, just behind Exosens. The stock broke through its support level at €2.38 during the session, a level it had already breached yesterday during a drop of more than 4%. This break confirms the deterioration that began at the end of May, with a decline of nearly 10% over a week and more than 38% over a month. The RSI at 35 indicates seller exhaustion without a clear oversold signal, while the price is now 12.6% below its 200-day moving average (€2.68) and nearly 24% below its 20-day moving average (€3.08), a gap that measures the extent of the correction since the late May peak.

Commercial Momentum Around LEO Services Fails to Halt the Correction

Yet, the flow of announcements remains robust in the low-orbit connectivity segment. The company confirmed yesterday an expansion of its maritime partnership with AST Networks, a multi-million dollar multi-year agreement involving the OneWeb constellation. Earlier in June, the group also signed the CENTAURE contract with the French Ministry of Armed Forces, valued at up to €350 million over eight years.

These signings have not reversed the stock's trajectory, even though the nine-month 2025/2026 financial results released on May 12 reported a negative currency impact of €42 million and a nearly stable operating revenue, despite a 50% year-on-year increase in LEO activity. The next technical level is now observed around the area of the previous low point, while the lower bounds of the moving averages continue to diverge from the price.