Safran Shares Climb 2.2% Breaking Through the €333.5 Resistance
The aeronautical engine manufacturer continues its forward march at the close of this Wednesday session, ranking among the leaders of the CAC 40. The stock has breached a technical barrier that had been closely watched for several weeks, in a Parisian market trending upwards.
A Clear Breakthrough of the €333.5 Resistance Paving the Way to €347.2
Safran's stock rose 2.2% to €338.40 at close, after breaking through its €333.5 resistance during the session. The stock remains above this threshold, technically validating an upward breakout from a zone that had capped the price for several sessions. The next target identified is the €347.2 resistance, about 2.6% above the current price.
The movement is part of a prolonged upward trend: the stock has gained 18.7% over one month and 17.8% over three months. It is significantly above its three moving averages, with a gap of 9.73% over the MM20 (€308.40) and 12.13% over the MM200 (€301.78). The RSI at 66 indicates the strength of the movement without yet tipping into an overheated zone, while the MACD remains positive (histogram at 3.25), consistent with the ongoing acceleration phase.
Safran Among the Leaders of the CAC 40 Amid Persistent Geopolitical Tensions
Safran is among the top performers of the CAC 40, as the Parisian index rose 0.54% to 8,385.49 points at close. The movement unfolds in a context where the geopolitical risk premium remains high: Washington denied on June 22 the closure of the Strait of Hormuz claimed by Iran, and Brent is trading around $78.7 per barrel, below its recent highs but still sensitive to conflicting signals on the truce. The defense and military aerospace sectors remain at the forefront in this environment.
The group has made multiple industrial announcements in recent weeks, including the memorandum of understanding signed with Theon on June 16 for a joint venture in drone optronics, and an announced ramp-up on the AASM Hammer, with production expected to reach about 1,400 units this year. The clear breakthrough of the €333.5 resistance now sets the €347.2 level as the next technical milestone to watch.
