Rexel stock gains nearly 5% over the week and attacks a key threshold

A resistance breakthrough during the session that confirms the bullish momentum of the stock

The Rexel stock gains 2.62% to €37.64 during the session, bringing its weekly advance to nearly 5% in an SBF 120 that is stagnating at +0.04%. This movement is accompanied by a notable technical signal: the price briefly broke above its resistance level of €37.61 to touch a high of €37.82, before retreating below this threshold (last price at €37.51). This type of breakthrough without immediate consolidation reflects a tense configuration, with the stock testing a key level that it has not yet fully integrated.

Above its three moving averages (MA20 at €36.39, MA50 at €37.12, MA200 at €35.71), Rexel displays a constructive configuration. The RSI at 52 remains neutral, without signaling overbought conditions, which leaves room for the current momentum to continue. The next identified resistance is at €39.30, approximately 4.5% above the current price.

An annual gain of 36% rooted in sector recovery, but a macro context to monitor

Over twelve months, Rexel displays a gain of 36.43%, a performance that reflects the group's ability to capture flows related to the energy transition. When publishing Q2 2026 results on July 28, the group announced growth of 6.7% and raised its full-year targets. This underlying context contrasts with a deteriorating construction environment: according to Eurostat and INSEE data from August 2026, the construction climate in France stands at -18.2, housing permits decline 8% year-over-year, and sector output falls 4.8% in annual terms.

Rexel, whose demand is exposed to the construction cycle through equipment and services, is thus evolving in a final market under pressure, even though its ability to position itself in energy renovation and electrification markets partly mitigates this effect. Furthermore, money markets anticipate a 25 basis point rate hike by the ECB on Thursday, which would bring the deposit rate to 2.50%: a higher rate environment could weigh on the pace of investments in construction and renovation. The analysts' consensus remains a key benchmark to assess whether the breakthrough of resistance at €37.61 is confirmed in coming sessions.