Nexans Shares Jump 3.58% Testing a Key Technical Threshold at Midday
Nexans shares showed a significant increase this Wednesday at midday, rising 3.58% to €121.40 after closing at €117.20 the previous day. This rebound occurs in a supportive context for the CAC 40, which is up 0.89% during the session. The French cable manufacturer is now very close to its 20-day moving average, a technical level closely watched by traders.
Positive Reaction to Support Threshold
Nexans shares responded positively upon reaching its support threshold at €116.70, a floor that was not breached in recent sessions. The price, at €121.40, is now approaching its 20-day moving average (€121.94), crossing which would constitute an initial short-term reversal signal. However, the stock remains significantly below its 50-day (€127.30) and 200-day (€123.39) moving averages, indicating a still fragile underlying trend. The RSI, at 42, remains below the 50 mark, suggesting that the bullish momentum is not yet confirmed despite today's session. The major resistance lies at €142.20, well above current levels. Over a week, the performance remains almost stable (+0.25%), while the annual gain reaches 24.32%, indicating that the recent decline is part of a consolidation within a longer-term upward movement.
Upcoming Financial Milestones
The coming weeks will be marked by several financial deadlines for the cable and connectivity solutions specialist. The first quarter 2026 results are expected on April 28, followed by the annual general meeting scheduled for May 21. These events could act as catalysts for the stock, while monthly volatility remains high at 12.47%. On a sectoral level, today's session also benefits other industrial stocks listed in Paris: Schneider Electric is up 3.35% and Airbus gains 1.77% during the session. The SBF 120 advances by 0.93%, confirming a favorable dynamic on the Paris stock market this Wednesday. However, the VIX, a market tension indicator, remained high at 27.19 points at its last close on March 13, indicating a still nervous market environment internationally.
