Nexans Falls by 2.50%, Shares Take a Breather After a 33% Rally Over Three Months

Today's Decline Despite Oddo BHF's Target Increase to 190 Euros

Nexans shares drop 2.56% to €156.10 during the session, while the SBF 120 index rises by 0.74%. The decline goes against the current of the Parisian market, with no apparent link to the company's specific news flow. The day before, the stock had rebounded by 2% following the completion of the acquisition of Republic Wire, an American low-voltage cable manufacturer based in Cincinnati. This transaction expands the group's footprint in the North American market.

Based on the current price, this target offers an appreciation potential of about 21.7%. Today's decline brings the weekly performance to -3.04%, but the stock still holds a gain of over 33% over three months and 55% over a year.

Stock Falls Below Its 20-Day Moving Average

The stock has fallen below its 20-day moving average (€161.28), with a negative gap of 3.21%. The RSI at 57 remains neutral, indicating that the decline has not yet shifted the configuration into a sell pressure zone. The 50-day moving average at €144.16 and the 200-day moving average at €130.91, however, remain well below the price, with a respective gap of +8.28% and +19.24%, maintaining the underlying bullish trend set since spring.

The identified technical support at €134.90 is distant, while the resistance at €167.90 corresponds to the peaks reached in May, when the stock hit a record of €168.50 on May 14. The current decline appears to be a consolidation phase after the rally, with the stock having gained more than 33% over the quarter. The next reference point remains the 20-day moving average, whose reconquest would condition a return to the May highs.