SES Shares Fall Again, Threatening Key Support at €7.40

Another Session in the Red Amid Middle East Easing

SES is down 2.62% at €7.605 in mid-morning trading, while the CAC 40 is up 0.75% and the SBF 120 has gained 0.72%. The stock is among the largest declines in the broader index, following Viridien and Eramet. This drop extends the nearly 6% plunge experienced the previous day, which had already seen the satellite operator moving against a well-oriented Parisian market.

The preliminary agreement between the United States and Iran, signed on Sunday, extends the 60-day ceasefire and includes the reopening of the Strait of Hormuz. This easing caused Brent crude to drop about 4% yesterday, to around $83 a barrel. While this movement benefits cyclical stocks and the aviation sector, it deprives defense and satellite players of the geopolitical risk premium that had been supporting them for several weeks.

Stock Falls Below Its MM50 After a 47% Rally Over a Year

In terms of technical benchmarks, the price is now in contact with the MM50 at €7.61 (a gap of -0.07%), after briefly reclaiming it last week. The MM20 at €8.64 remains out of reach, with a negative gap of nearly 12%. The RSI at 44 indicates fatigue without placing the stock in an oversold zone, while the identified support at €7.40 is the next reference level on the downside.

The backdrop remains that of an impressive rally: +27.6% over three months and +47.4% over a year, despite a loss of 7.5% over the past week. The stock had reached a multi-year high at the end of May, driven by tensions in the Middle East and connectivity contracts signed with airlines, including the announcement in early June of the equipment of 100 Viva Airbus with in-flight satellite connectivity. The behavior of the price around €7.40 will provide the next indication of the strength of this upward trajectory.