In seven days, Technip Energies stock gains 8.5% and targets its resistance level
The energy engineering group continues its recovery in a slightly positive Paris market. A major bank revised its opinion earlier this week, and the stock is approaching a technical threshold observed over several sessions.
An 8.5% increase over the week bringing the stock closer to its resistance
The Technip Energies share gains 2.2% to €30.60 in trading, following a 8.51% advance over seven days. The price is approaching its resistance at €30.80, just 0.7% away, while the 20-day moving average at €29.10 remains well below. The stock is however 8.8% below its 200-day moving average at €33.54, which leaves the year's decline intact despite this rebound.
This movement extends the recovery initiated since the start of the week, punctuated by contract awards: on October 12, the group announced a contract for a refinery in Mumbai, valued between €250 and €500 million. In the index, the stock gains 2.2% while the SBF 120 advances 0.32%.
UBS raises its opinion to buy, with a €39 target price
On October 14, UBS changed its rating from neutral to buy and lowered its price target from €41 to €39. This level leaves approximately 27% upside potential compared to the current price, according to analyst consensus published on the stock. On the company's side, the publication of H1 2026 results on July 30 had been accompanied by lower margin guidance for Project Delivery.
The group also completed a €150 million share buyback program announced in February, executed at approximately 100% as of July 1. The level to watch remains the €30.80 resistance, with support at €28.10 below.
