Métropole TV Shares Drop 3% and Halt the Rebound Fueled by Merger Rumors with TF1
Métropole TV stands out with a significant decline at mid-session, while the Parisian market is on a marked upward trend. The stock is among the few showing a sharp drop in the broader index, while the main European indices benefit from a more relaxed market atmosphere following the easing of crude oil prices.
Métropole TV Declines in a Sharply Rising SBF 120
Métropole TV shares fell 3.02% to €12.20 at midday, while the SBF 120 rose by 1.76% and the CAC 40 gained 1.81%. The stock is thus among the steepest declines in the SBF 120, contrary to a Parisian market buoyed by geopolitical relaxation in the Middle East and Brent crude falling below $90. The drop erases part of the recent rebound: the stock had maintained a gain of 6.64% over a week and 6.27% over a month. This movement comes a few days after the rumors of a merger with TF1, which had boosted the stock by 8% on June 8, and now seem to be subject to profit-taking.
Price Remains Above Its Moving Averages Despite Today's Correction
Despite today's decline, the price remains above its three reference moving averages: the MM20 at €11.73, the MM50 at €11.96, and the MM200 at €12.08, with a respective gap of 4.01%, 2.01%, and 0.99%. This configuration indicates that the underlying trend remains bullish, but the cushion above the MM200 is eroding quickly. The RSI at 66 indicates a still robust dynamic without crossing into the overbought threshold, while the MACD remains positive with a histogram at 0.18. The technical support identified at €11.30 is the next low marker in case the decline continues, with the resistance threshold at €12.98.
