Michelin Shares Reach CAC 40 Podium, Boosted by a 15% Rally in 3 Months

A Rebound That Positions Michelin Among the Top Gainers of the CAC 40

Michelin's stock rises 1.87% to €34.89 during the session, while the CAC 40 remains unchanged at 8,323.9 points and the SBF 120 marginally declines. The stock ranks among the top gainers of the CAC 40, following ArcelorMittal (+5.58%) and Stellantis (+3.04%), while technology and defense stocks (Thales, STMicroelectronics, Safran) lag behind. Over the month, the manufacturer has advanced 8.66%, and more than 15% over three months, a trajectory that contrasts with the stagnation of today's Parisian market. This movement extends the sequence that began in early July, when the stock broke through €34 the day after finalizing the acquisition of Tex Tech Industries, an American specialist in technical textiles.

The Stock Challenges Its Resistance at €35.11 with Support from Its Moving Averages

From a technical standpoint, the stock price is significantly above its three moving averages: the MM20 (€33.86) is surpassed by more than 3%, the MM50 (€32.46) by nearly 7.5%, and the MM200 (€30.55) by more than 14%. This setup confirms the resurgence of the trend that began in mid-June, supported by an RSI of 59, which still leaves room before reaching the overbought zone. The stock is now facing resistance at €35.11, just a few cents off the current price. Beyond the stock movements, this week Michelin ResiCare entered exclusive discussions with Axens to industrialize bio-sourced 5-HMF, targeting the first annual 3,000-ton unit by early 2027 in Péage-de-Roussillon. Whether or not it will break through the €35.11 will be the next technical marker to watch for the remainder of the session.