Eutelsat Stock, Laggard of the SBF 120, Breaks Through Its Support Level
The session turns decidedly red for Eutelsat Communications, which records the steepest decline of the SBF 120 at mid-session on September 1st, 2026. The stock breached its current support threshold downward during the session, exacerbating a technical deterioration already well underway over recent weeks.
A Support Level Broken During the Session and Moving Averages Far Above the Price
The Eutelsat Communications stock is down 5.22% to €1.74 during the session, after closing the previous day at €1.84. Today's decline is part of a much broader trend: the stock has fallen 15.03% over one month and 56.11% over three months, illustrating the scale of the deterioration since spring. During this Tuesday's session, the price broke through the €1.83 support level and remains below it, thus erasing a level that could have slowed selling pressure. Moving averages confirm the deterioration: the price is 13.21% below the 20-day MA at €2.01 and 19.24% below the 50-day MA at €2.16, while the 200-day MA at €2.38 stands 26.70% above the current price.
This triple negative gap to the three reference moving averages reflects a bearish dynamic established across all timeframes. The RSI at 32, approaching the oversold zone, signals progressive exhaustion of selling pressure without a clear reversal being discernible in the current configuration. The MACD, with a negative histogram at -0.015, confirms that the bearish trend remains active. Meanwhile, the VIX is up 10.4% during the session, a sign of broader market nervousness, in a context where the CAC 40 is down 0.52% and the SBF 120 is down 0.51%.
A LEO Transition Model Struggling to Reassure, Despite Annual Results Published in August
The annual accounts published on August 24th, 2026 for the FY 2025 fiscal year showed operational revenue growth of 1.8% on a comparable basis and an adjusted EBITDA margin of 51.2%. Net debt had declined by €1.16 billion at that time, a significant effort on the financial structure. The ramp-up of the LEO segment (low orbit), up 69.5% to €297 million and now representing 25% of total revenue, constitutes the group's primary stated growth lever. However, this transition faces structural headwinds: the Video division declined 13.1% due to sanctions against Russian channels, and the GEO segment (geostationary orbit) is engaged in an anticipated lasting decline for 2026-2027.
The termination of capacity agreements on the Express AT1 and AT2 satellites further darkens the picture. In return, the group has compensation potential of $504 million linked to C-band liberation in the United States, and a CENTAURE contract worth €350 million as part of the NEXUS framework agreement with the French Armed Forces, two elements that have not been sufficient to stem market distrust in recent periods. The next resistance level to watch is set at €2.22, now very far from the current price.
