FDJ United Shares Slide Below Covid-Era Low, at the Bottom of SBF 120
FDJ United stock marks a new multi-year low, continuing a slide that began several months ago. The stock is at the bottom of the SBF 120 in an otherwise rising Paris market. Short positions remain high on the stock.
An Unprecedented Low Since the 2020 Covid Crash at €21.38
FDJ United stock fell 2.85% to €21.48 in mid-morning trading, after touching €21.38 during the session. This level surpasses the previous low of €21.43 reached at the height of the health crisis in 2020. The decline is part of a significant downward trend, with a drop of 14.69% over three months and nearly 34% over a year, while the SBF 120 is up 0.12% and the CAC 40 is up 0.21%. The stock is significantly below its three moving averages: the MM20 (€22.74) is 5.9% above the current price, the MM50 (€23.43) at 8.3%, and the MM200 (€24.56) at 14.3%, indicating a marked bearish configuration across all time scales. The RSI at 35 indicates seller exhaustion without signaling a reversal, while the support at €22.11, broken during the session, now becomes a technical resistance.
High Bearish Bets Persist Despite Slight Pullback Over a Month
According to reviewed statements, five funds hold a combined 7.16% of the capital sold short, a high level that reflects the continued skepticism of some institutional investors towards the stock. The cumulative short position has nevertheless lightened by 0.52 points over thirty days, indicating a start of covering without a clear reversal of sentiment. Based on the consensus of surveyed analysts, the stock is trading at about 9.1 times the earnings expected for the current fiscal year, with projected EPS growth of 14.7% next year. The latest communication from the group on June 19 concerned the support of five sports federations through the Performance for Them program, without direct financial impact. The crossing below the multi-year threshold of €21.43 now serves as the main technical benchmark to follow the continuation of the movement.
