Nexans stock rebounds and flirts with its 200-day moving average
The cable manufacturer rebounds on Wednesday following the 5.5% decline suffered on Monday, which had pushed it back below all of its moving averages. The stock is evolving in a tense market context, between the Federal Reserve's monetary policy decision expected later today and persistent tensions over energy prices in the Middle East.
An intraday rebound that brings the stock back into contact with its key moving averages
Nexans advances 1.65% to €135.60 during trading, rising among the strongest gainers of the SBF 120, which itself gains 0.45% at midday. The rebound follows Monday's sharp decline, which had erased the gains accumulated at the end of the previous week and placed the stock in a precarious position regarding moving averages. The price remains below the 20-day MA at €138.84 (gap of -2.33%) and below the 50-day MA at €136.44 (gap of -0.62%), but now trades nearly in contact with the 200-day MA at €135.97, with a minimal gap of -0.27%.
This triple downward pressure from moving averages illustrates the fragility of today's recovery: the stock must still break through the 50-day MA to draw a more constructive configuration. The RSI at 43, in neutral territory, signals neither particular selling exhaustion nor affirmed buying momentum, while resistance at €144.70 remains distant, more than 6.5% above the current price.
Solid half-year results and Republic Wire acquisition as fundamental backdrop
From a fundamental perspective, the group had raised its outlook for 2026 upon publishing first-half results (on July 29, 2026), with EBITDA target raised to €805 million. The integration of Republic Wire, financed by the €500 million bond issue at 4.25% closed on September 10, opens access to the American low-voltage market, estimated at €12 billion, with approximately €23 million in synergies expected at full run-rate within three years. These positive elements coexist with points of vigilance identified during the half-year publication: the normalization of the PWR-Transmission segment, which posted organic growth of -6.2% in the second quarter, and margin pressure on PWR-Connect (11.8% versus 13.6% a year earlier).
One-year performance remains modest at +1.19%, and the decline of -8.56% over three months illustrates the correction accumulated since summer highs. In this context, the holding of support at €131.40 remains the level to watch.
