Rémy Cointreau stock rebounds 2.5%
The cognac and spirits group is gaining momentum on Monday, in an SBF 120 that is declining nearly 0.8% during the session. The rebound comes as the stock remains under pressure for several weeks, with a notable decline over one month, and as short sellers maintain a significant presence in the capital.
A session rebound that does not yet offset the monthly decline of 8.4%
Rémy Cointreau is advancing 2.61% to €43.24 during the session, ranking among the strongest gainers of the SBF 120, while the broad Paris index declines 0.77%. Pernod Ricard is also posting a similar gain of 2.83%, a sign of renewed appetite for the French spirits segment on Monday. However, this rebound is set against a difficult overall backdrop: the stock is still posting a decline of 8.39% over one month and 6.45% over one year, so that today's gains only partially ease the pressure accumulated since summer.
Over the past week, the balance remains negative at -2.35%, following a September 7 session where the stock had finished as the worst performer of the SBF 120. The sector outlook remains unfavorable: cognac exports declined 10.9% in value over the full year 2024, and French spirits overall posted a decline of 6.5%.
An RSI in oversold territory and short sellers still present on the file
From a technical indicators perspective, the RSI at 34 signals a pronounced oversold configuration, consistent with the downtrend of recent weeks. The price remains below the 20-day moving average (€45.31, a gap of -4.57%) and below the 50-day moving average (€45.47, a gap of -4.90%), two levels acting as short-term resistance. Conversely, the stock is holding above its 200-day moving average at €41.35, with a positive gap of 4.57%, which provides it with a medium-term floor. The immediate support level is at €42.14, corresponding to last Friday's close, while the €48.48 resistance remains approximately 12% away from the current price.
Furthermore, according to recorded declarations, four funds cumulatively hold 4.75% of capital sold short, a high level, even though it is down 0.61 percentage points over thirty days (versus 5.36% a month ago). This progressive decline in short interest deserves to be monitored: it may reflect partial position buybacks, without necessarily signifying a lasting reversal of downward pressure on the stock. The €42.14 support remains the reference level to watch if today's rebound does not continue.
