Orange Stock Drops to €18.34 After Five-Year High

A Consolidation Bringing the Stock Back to Its Short Moving Averages

Orange stock has retreated after a marked upward trend: the stock had reached a new five-year high of €18.74 on Tuesday, the day of the general meeting. At €18.34, the price remains 1.95% above the MM20 (€17.99) and 3.56% above the MM50 (€17.71). The RSI at 61 exits the high zone without tipping into overbought territory, indicating a pause rather than a reversal. Today's decline is part of a slightly negative CAC 40 (-0.09%), with a relaxing VIX at 17.44. The medium-term dynamics remain favorable: the gap above the MM200 (€15.34) reaches nearly 20%, reflecting the bullish trend. The support at €17.14 limits the lower consolidation zone, while the resistance at €18.72 corresponds to the peak recorded this week.

A Solid Annual Performance Backed by Q1 Results and Analyst Support

The stock maintains a year-on-year gain of 38.1%, driven by a series of favorable announcements in recent weeks. On April 23, the publication of the first quarter of 2026 had caused the stock to jump by 4%, with revenue up 3.5% and EBITDAaL up 6.6%, despite about 100 million euros of non-recurring items related to fiber co-financing. In early May, Goldman Sachs had upgraded its recommendation to buy with a target of €21.60, representing a potential of about 18% over today's price. Operationally, the group secured financing of 1.3 billion euros at the end of April to buy Scorefit, as part of its copper-to-fiber transition. The expansion in Africa was also strengthened in mid-May, with 50 new digital centers announced. The next technical milestone to watch remains the recent peak of €18.74, whose crossing would open uncharted territory since 2020.