Rexel stock gains +6% in one week and challenges its resistance at €37.95
Rexel closes Tuesday, September 22 session with strong gains, bringing its weekly gain to nearly 6%. The stock is now within striking distance of the resistance level that had blocked several bullish attempts in recent weeks, in a context of slightly positive Paris markets.
A 2% gain that propels the stock toward a closely watched technical ceiling
Rexel closes at €37.36, up 2.13% compared to the previous day (€36.58). The advance places the stock at its closest proximity to its €37.95 resistance level, a threshold that has already been tested several times since early September without ever being breached at close. The gap is now just €0.59 between the current price and this ceiling, which gives the session real technical significance.
The RSI at 51 is perfectly neutral, neither oversold nor overbought, leaving room for movement in both directions. Below, the €35.26 support remains more than 5% away from the current price. The weekly momentum is strong: nearly 6% gained over seven days, following the breakdown of support at €35.40 that occurred on September 14, which had momentarily brought the stock to its lowest point of the month.
2026 targets raised in July, rising debt to monitor in second half
The rebound of recent weeks is taking place in a more favorable fundamental context than at the beginning of summer. Upon publication of the first half of 2026 on July 27, management had raised its annual targets for growth and profitability, citing record order backlog and increased momentum in digital sales, which reached 35% of revenue. These elements had helped anchor the stock around €37 following a consolidation phase.
The countervailing factor to monitor remains net financial debt, which rose to €3,322 million as of June 30, 2026, an increase of €690 million since the end of December 2025, partly driven by an active acquisition strategy (TC 360, Revere, DEE) under the Axelerate 2028 plan. The €37.95 resistance therefore constitutes the first filter to observe: should it give way, the stock would return to uncharted territory since the failed attempt on September 9, which saw an intraday peak at €38.25 before a sharp reversal.
