Shell Stock Shatters Historical Record at 38.02 Euros Amid Oil Market Turmoil
On Thursday, Shell PLC reached a new historical high of 38.02 euros, surpassing the previous peak of 37.56 euros achieved the day before. The stock increased by 1.22% during the session, continuing an impressive upward trend with nearly 8% gained over seven days. This rise occurs in a context of significant turmoil in the oil markets, following a week marked by unprecedented price movements in crude oil.
Shell PLC Defies European Market Downturn
Shell PLC moves against the current of a slightly declining European market, with the CAC 40 down 0.39% at 8,010 points and the FTSE 100 retreating by 0.34%. The Anglo-Dutch oil major directly benefits from the turbulent environment in crude oil prices. After a surge of about 30% in a few hours on Monday, Brent reached close to 120 dollars a barrel, before falling more than 11% on Tuesday to stabilize around 91 dollars on Wednesday. This exceptional volatility, linked to the escalation of conflict in the Middle East, has mechanically strengthened the revenue prospects of large integrated oil companies. Furthermore, the publication of the annual report for 2025 scheduled for this March 12 provides an important opportunity for operators to assess the group's operational results. The payment of the fourth quarter 2025 dividend is scheduled for March 30, while a strategic document dedicated to the LNG outlook ('LNG Outlook') is set to be unveiled on March 16, all of which are likely to fuel short-term interest in the stock.
Technical Analysis Highlights Bullish Trend
From a technical perspective, the stock has crossed the resistance at 37.56 euros during the session, an old high now converted into a new reference level. This breakthrough confirms the underlying bullish trend, with the price significantly above its 50-day moving average (32.92 euros) and its 200-day moving average (31.81 euros), indicating a well-established buying momentum across various timeframes. However, the Relative Strength Index (RSI) stands at 82, well above the traditional overbought threshold of 70. This high level suggests that the recent progression has been particularly rapid: over three months, the stock has advanced 22.61%, and 24.64% over a year. Such a setup generally calls for caution, as excessive overbuying may precede a phase of consolidation or profit-taking, without necessarily invalidating the underlying trend. The major support identified is at 31.64 euros, significantly below current levels.
