Rémy Cointreau Shares Bounce Nearly 3%, Short Sellers Hold Steady in Capital
The Cognac group's stock shows significant progress in mid-morning trading on the Paris Stock Exchange, following a well-oriented Parisian rating. The stock recovers after a dip last week, while short positions remain significantly present in the capital.
A Rebound that Places the Stock Above its 50-Day Moving Average
Rémy Cointreau's stock is up 2.74% at €42.80, among the strongest gains in the SBF 120. The stock has moved above its 50-day moving average (MM50) at €41.52 (a +3.08% gap) and its 200-day moving average (MM200) at €41.23 (a +3.81% gap), but remains slightly below its 20-day moving average (MM20) at €43.64, leaving the €45.42 resistance as the next graphical hurdle, already tested several times in June. The RSI at 44 indicates a neutral configuration, consistent with a rebound after a 4% decline last week. Over three months, the stock still shows a gain of 15.5%, a legacy of the rally that followed the unveiling of the RC Forward plan in early June.
Elevated Short Positions in a Weakened Cognac Sector
According to recorded statements, the cumulative net short position on the stock reaches 5.28% of the capital, carried by five funds, nearly stable over a month (-0.10 point). This level, higher than most of the SBF 120 values, indicates that several institutional investors remain positioned for a downturn or are seeking to hedge exposure, without any acceleration observed over the last thirty days. This point deserves attention without drawing premature conclusions, especially as the sectoral context remains challenging: French exports of cognac have fallen by 10.9% in value in the 2024 balance according to the FEVS, and all spirits by 6.5%. The next concrete appointment: the stock now moves within a corridor bounded by its MM20 at €43.64 and its support at €37.50.
