SES Shares Bounce Back 2.5%, Marking One of the Top Gains in the SBF 120
The Luxembourg-based satellite operator is seeing a resurgence in the early afternoon, after several weeks of continuous decline. The rebound occurs as the stock was in a marked technical oversold zone. The stock ranks among the strongest gains in the SBF 120, contrary to a generally declining Paris broader index.
Technical Rebound Initiated from an Oversold Zone After a Month of Decline
SES shares gain 2.55% at €6.82 during the session, after closing at €6.65 the previous day. The surge follows a brutal sequence: nearly 31% lost over a month, including a new bearish acceleration last week documented in a brief from June 25. The RSI at 31 indicates the exhaustion of selling pressure observed since the break of €7.40 in mid-June, and the stock rebounds towards its support at €6.63.
However, today's rise remains modest compared to the magnitude of the monthly decline: it mitigates, without erasing, part of the correction. The price remains well below its short-term moving averages (MM20 at €7.78 and MM50 at €7.74, approximately a 12% gap), while the MM200 at €6.53 is below the price for the first time since the downturn, with the stock trading 4.52% above this average.
Geopolitical Easing and Still Unfavorable Sector Context for Satellite Services
The rebound occurs in a relatively calmer geopolitical environment. Washington and Tehran have agreed to a pause in strikes in the Gulf and to resume technical discussions on the Strait of Hormuz, after several days of escalation. This easing had already weighed on satellite defense-related stocks, including SES, in June by reducing the risk premium on these issues. The Paris market remains cautious: the CAC 40 drops 0.2% to 8,368 points and the SBF 120 loses 0.15%, while the VIX relaxes to 18.31.
In terms of direct competition in the segment, the group had signed a contract in early June with the Mexican company Viva to equip 100 Airbus with in-flight connectivity, a commercial relay that has not been sufficient to reverse the stock trend. The support at €6.63 remains the immediate technical reference: its maintenance will condition the stock's ability to stabilize after a monthly drop of nearly a third of its value.
