Nexans Shares Drop by 3.24% Breaking a Key Technical Support
This Thursday morning, Nexans shares significantly declined, dropping 3.24% to 116.40 euros in early trading hours. This decrease is part of a broader downturn in the Paris market, with the CAC 40 losing 1.64% during the session. The cable and connectivity solutions specialist is now trading close to a closely watched technical threshold.
Nexans Loses 3.24% Compared to Previous Closing
Nexans has fallen by 3.24% from its previous close of 120.30 euros, a drop significantly larger than that of the CAC 40, which is down by 1.64% this Thursday morning. The SBF 120 shows a comparable decline of -1.65%. Other industrial stocks listed in Paris are also experiencing significant sell-offs: Schneider Electric is down 3.26% and Airbus has dropped 2.81%. Over the past week, Nexans' stock has fallen by 2.59%, while its three-month performance is at -4.82%. However, over the longer term, the stock still shows a gain of 16.4% over one year. The next key date in the financial calendar is the publication of the first quarter 2026 results, scheduled for April 28, followed by the annual general meeting on May 21.
Morning Decline Brings Nexans Closer to Support Threshold
This morning's decline brings Nexans' shares close to its identified support level at 116.70 euros. At 116.40 euros, Nexans is trading below this level, signaling a technical weakness to monitor. A sustained breach could pave the way for a continuation of the downward trend, while resistance is significantly higher, at 142.20 euros. The stock is now trading below all of its moving averages: MM20 (121.13 euros), MM50 (127.17 euros), and MM200 (123.48 euros). This configuration, where the price simultaneously distances itself from these three benchmarks, indicates a bearish momentum in the short and medium term. The RSI, at 48, remains in a neutral zone and does not indicate an oversold condition, suggesting the possibility of a continued decline without immediate technical excess.
