FDJ United Stock Advances 1.7% and Targets Its MA50 Despite 6.5% Short Positions
In a slightly declining SBF 120, FDJ United stands out as an exception and ranks among the rare securities in positive territory this afternoon. The stock is holding up in an agitated market context, marked by Brent surging above $100 and anticipation of a rate hike by the ECB meeting today.
FDJ United Resists SBF 120 Decline and Approaches Its Resistance at €23
FDJ United gains 1.68% to €22.44 during the session, while the SBF 120 falls 0.29% and the CAC 40 declines 0.33%. This upward movement places the stock among the strongest gainers in the SBF 120, in a session dominated by caution. The price is now trading above the MA20 at €22.25, with a spread of 0.85%, and approaching the MA50 at €22.46, from which it remains slightly below (-0.09%). Breaking through this 50-day average would represent a notable milestone, particularly as the €23 resistance level represents the next threshold to monitor on the chart.
The RSI at 45 remains in neutral territory, with no overbought signal. The €21.93 support is moving away, offering comfortable margin from current levels. Over the week, the stock advances 1.31%, and shows near-stability over one month (+0.81%), while the one-year performance remains degraded at -20.48%.
Elevated Short Positions to Monitor in a Context of Strained Rates and Energy
According to disclosed filings, four funds hold 6.49% of FDJ United capital in net short positions, a level that has increased by 0.43 percentage points over thirty days. This cumulative figure, above 6%, reflects significant institutional bearish positioning on the stock, even though today's gain shows that these bets are not necessarily expressed on a daily basis. Such a level of shorts can amplify movements in either direction, without it being possible to deduce a precise direction.
The stock's rebound occurs in a session marked by two macro developments weighing on the European market: the ECB is holding its monetary policy meeting this Thursday, September 10, with a 25 basis point rate hike virtually fully anticipated by money markets, to address energy inflation that returned to 14.3% in August. Additionally, Brent has surpassed $100 per barrel, reviving pressures on purchasing power and margins of companies exposed to energy costs. FDJ United, whose lottery and betting business model is relatively insensitive to these variables, is holding its own in this context, even if the selling pressure from funds positioned downside remains a parameter to monitor.
