Legrand Shares Dip by 2.3%, Losing Support at €145.60

The Stock Breaks Its Support at €145.60 and Slides Below Its Short-Term Moving Averages

Legrand drops 2.27% to €144.00, marking one of the steepest declines in the CAC 40 while the index itself only falls by 0.24%. The downward breach is accompanied by a drop below the MM20 at €151.01 (a -4.64% gap) and below the MM50 at €147.75, signaling a short-term unfavorable dynamic. However, the MM200 at €139.17 remains below the price, with a cushion of 3.47%, preserving the underlying trend. The RSI at 46 indicates a market that is neither overbought nor oversold, consistent with an orderly retreat rather than a capitulation.

A Consolidation That Erases Part of the Rally, Amidst Sustained M&A Activity

Over the past month, the stock has lost 4.98%, but still holds a gain of 33.7% over the year, illustrating the extent of the bullish journey accumulated since the summer of 2025. The company continued its strategy of targeted acquisitions in 2026, including the acquisition of SRS Power Engineering in Malaysia announced on May 20, the fifth operation of the year focused on data centers and power protection. This external dynamic is accompanied by a net debt reaching €4.67 billion, up from €3.03 billion a year earlier, as shown by the first quarter accounts published on May 7. The construction sector in Europe remains unfavorable, with a construction climate indicator at -17.2 in France and a production decline of 3.5% year-on-year in May. The €145.60 support, now lost in session, becomes the technical benchmark monitored for upcoming closings.