Nexans Shares Surge 3.46% at Midday, Testing its 200-Day Moving Average

Nexans' Tuesday Rebound Brings It Close to Its 200-Day Moving Average

This Tuesday's rebound in Nexans brings the share price close to its 200-day moving average, located at 122.86 euros, a level that serves as an important technical milestone. Recently, the stock has been trading well below its 20 and 50-day moving averages (128.04 and 128.30 euros respectively), indicating a bearish trend established over several weeks. The RSI, an indicator measuring the speed and magnitude of price changes, is at 27, a level traditionally considered to reflect an oversold zone. This level could partly explain the catch-up movement observed during the session. The most relevant technical support is at 116.70 euros, a floor from which the stock has distanced itself thanks to today's progress. Over one year, the performance remains strong with a gain of 28.78%, contrasting with the recent weakness in the share price.

Key Dates Ahead for Nexans with Q1 Results and General Meeting

Nexans' financial calendar includes the publication of first-quarter results on April 28, followed by the annual general meeting scheduled for May 21. These events will be crucial in assessing the operational trajectory of the group specializing in cabling solutions. The market context remains marked by high volatility, as evidenced by the VIX at 29.49 points on March 6, significantly up from its previous levels. Major stock exchanges, however, are showing a rebound this Tuesday: the DAX is up 2.22% during the session, while the Nikkei 225 closed up 2.88% and the Hang Seng up 2.17%. The SBF 120, the index in which Nexans is listed, is up 2.19% during the session. The cable manufacturer's progress thus fits into this overall recovery movement, following a correction phase that had weighed on the entire Paris stock exchange.