Renault Shares Hit a Three-Year Low, Plunging 5.15%
Renault shares plummeted this Tuesday, March 3, dropping 5.15% to 28.92 euros by midday. The French automaker has broken below its previous three-year low, set the day before at 30.13 euros. This tumble occurs amidst significant geopolitical tensions affecting all European markets.
New Three-Year Low for Renault Shares
Today, Renault's stock price has reached a new three-year low, breaking below the 30.13 euros threshold that had been the lower limit during this period. At 28.92 euros, the stock now shows a decline of 9.65% over seven days and 16.51% over three months. Over the past year, the loss is nearly 42%. Today's session is marked by a surge in energy prices following military operations in Iran. Brent crude oil jumped to 80.14 dollars a barrel, while European natural gas (TTF) soared by nearly 25%. For an automaker whose production and logistics costs are sensitive to energy prices, this spike is an additional pressure factor. Moreover, the rerouting around the Strait of Hormuz by major shipping companies increases maritime transport costs, which can impact the supply chains in the sector.
Technical Analysis of Renault's Stock
Technically, the stock is now significantly below all its moving averages. The price of 28.92 euros is 12.7% below the 50-day moving average (33.12 euros) and 18.8% under the 200-day average (35.60 euros), indicating a marked downward trend on all time scales. The Relative Strength Index (RSI) stands at 42, in a zone reflecting persistent selling pressure without immediately signaling an oversold condition. The next major event for the diamond-shaped logo group is set for April 23, the date of the first quarter 2026 revenue release. The annual general meeting of shareholders will follow on April 30. These dates could be catalysts for the stock's trajectory in the coming weeks, as the value has continued to depreciate over several months.
