Legrand Shares Drop 2% and Fall Below MM200, Among CAC 40's Losers

The stock ranks among the biggest losses in the CAC 40 during the session

Legrand shares drop 2.03% to €137.70, down from €140.55 the previous day, ranking among the largest declines in the CAC 40 as the index falls by 0.39%. Today's decline brings the three-month loss to 6.87%, while the annual performance remains positive at +21.21%. This movement is part of a Parisian market climate weighed down by a renewed risk aversion, following restrictive comments from Fed Governor Lisa Cook, who stated she is ready to act if US inflation does not slow down quickly.

However, the VIX relaxes to 15.82, down 4.12%, indicating that global nervousness remains contained. The sectoral context does not help: the construction climate remains degraded in France in June (ECFIN indicator at -18.2), building order books remain at -33 and housing permits show a decline of 5.5% over twelve months, an environment that mechanically weighs on the demand for electrical equipment from the group based in Limoges.

Crossing below the three moving averages weakens the configuration

The stock falls below its three moving averages: the MM20 at €144.90 (-4.97%), the MM50 at €146.41 (-5.95%) and the MM200 at €140.22 (-1.80%). It is this last crossing that weighs the most, as the MM200 serves as a long-term trend benchmark and its loss extends the bearish dynamic already noted during the session of July 10. The RSI at 43 remains in the neutral zone and does not indicate overselling, while the MACD remains negative (-1.27 against -0.89 for the signal line), confirming the absence of a short-term reversal.

The identified support at €133.55 is now the next level to watch, about 3% below the current price. The stock is still significantly below its historical high of €159.40 reached in early May before the quarterly revenue release, but the current air pocket erases the entirety of the mid-June rebound.