Nexans Shares Bounce Back 2.49% After Precisely Testing Its Technical Support
Nexans shares saw a significant increase this Monday at midday, amid high volatility in the Paris markets. The cable specialist's stock is up 2.49% at €115.40, after closing at €112.60 on Friday. This rebound occurs as the CAC 40, which had fallen sharply in the early morning, turned positive during the session.
Dramatic Turnaround in European Markets
Today's session in the European markets is marked by a dramatic turnaround. The CAC 40, which had dropped more than 2% in the morning due to tensions between Washington and Tehran over the Strait of Hormuz, suddenly reversed its course following Donald Trump's announcement of 'very successful' discussions with Iran and the postponement of the planned military strikes. During the session, the Paris index is now up 0.61% at 7,712 points, while the SBF 120 is up 0.63%. Nexans fully benefits from this easing movement. Other industrial stocks listed in Paris are moving in the same direction: Schneider Electric is up 2.91% and Airbus by 2.57%. However, the rise in the cable stock occurs in a context of a decline accumulated over the past weeks, with a performance of -2.12% over seven days and -7.24% over three months. Over one year, the increase remains significant, at 18%.
Technical Perspective of Nexans' Stock Price
From a technical standpoint, Nexans' share price is in a low zone. Last Friday's close at €112.60 exactly coincided with the identified support level at this price. This Monday's rebound above this threshold is a signal to watch: a lasting breach below this support could have intensified selling pressure. The RSI, an indicator measuring the momentum of a stock on a scale of 0 to 100, is currently at 37. This level, close to the so-called 'oversold' zone (below 30), indicates a still dominant bearish pressure despite today's rebound. Moreover, the price remains significantly below its 50-day moving average (€126.62) and its 200-day moving average (€123.59), confirming that the medium-term trend is still downward. Looking ahead, investors will turn their attention to the publication of the first quarter 2026 results, scheduled for April 28, followed by the annual general meeting planned for May 21.
