LightOn Shares Soar 7.5%, Marking +80% Over the Week
LightOn shares continue their rally on Euronext Growth this Friday mid-session, after a significant acceleration in recent sessions. The French artificial intelligence company's stock extends a momentum that began in late spring, in an almost stable Parisian market.
The Stock Breaks Through the €6.35 Resistance and Reclaims Its 200-Day Moving Average
LightOn shares are up 7.56% at €6.40 mid-session, after closing at €5.95 the previous day. The stock has broken through its €6.35 resistance during the session and remains above it, with a last intra-session price of €6.65. Over the week, the performance reaches 80.48%, and 20.11% over three months. The rise allows the price to move back above the MM200 (€6.33), with a slight gap of 1.11%, while the shorter averages remain well below the price (MM20 at €4.21, MM50 at €4.50). The RSI at 68 is approaching the overbought zone without fully entering, reflecting the intensity of the movement without signaling immediate exhaustion. The year-on-year increase remains negative (-40.53%), reminding of the significant recovery since the spring low.
Sustained Momentum Following the Extension of the OCR Model to Arabic
The stock's rebound follows recent product announcements by the group. The extension of the LightOnOCR-2 model to Arabic, unveiled on June 12, targets organizations in the Middle East dealing with archives and administrative documents. This announcement came after the launch of Console, an open sovereign AI documentary platform, announced on June 3. During the session, the SBF 120 index barely advances by 0.11%, which distinctly isolates the stock's performance within the broader index. The breakthrough of the €6.35 mark now firmly positions the price above all its moving averages, with the area around the MM200 (€6.33) becoming the first reference level in case of a pullback.
