Société Générale Shares Stall Below €72 After Key Resistance
Société Générale ended Friday's session lower, alongside a declining CAC 40. The bank paused after encountering technical resistance the previous day, which had been monitored over several sessions.
A Measured Decline That Does Not Erase the Bullish Momentum of Recent Months
Société Générale fell by 1.08% to €70.48 at the close, down from €71.25 the previous day. The stock ranked in the lower half of the CAC 40, while the Paris index dropped 0.29% to 8,220.30 points. The movement comes after a session where the bank had approached a key resistance level. Despite the day's decline, the stock still shows a gain of 47.42% over the year and has risen by 7.24% over the past month. The European stock market climate remains mixed: the DAX dropped 0.52%, while the Nasdaq fell by 1.58% overseas. The VIX fell below 16 points, indicating a relaxation in overall volatility.
Below Resistance at €71.90, the Stock Remains Above All Its Moving Averages
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The stock price encountered resistance at €71.90, a level reached during the session before closing lower. At €70.48, the stock remains above its 20-day moving average (MM20) of €69.18 by 1.88%, and well above its 200-day moving average (MM200) of €64.06, by over 10%. The RSI at 57 remains in a neutral zone, showing no signs of excess. The fundamental technical configuration remains bullish, with the stock not challenging its support at €65.72. Based on the expected earnings per share, the stock is priced at about 9.2 times the earnings for the current fiscal year according to the consensus of analysts surveyed. The sustained crossing of €71.90 remains the technical threshold to watch for the continuation of the bullish sequence.
Résultat net part du Groupe record au S1-26 de 3,5 Md EUR, en hausse de +13,9% vs. S1-25, ROTE de 12,0% au S1-26
Risks mentioned
Revenus de la Banque de Grande Clientèle en baisse de -1,3 % au S1-26 vs. S1-25
Activités Taux, Crédit et Change en retrait de -15,0 % sur le semestre
Coût du risque en hausse de +6,6 % à 745 millions d'euros au S1-26
Opportunities identified
Cible de ROTE 2026 rehaussée à environ 11 % grâce à l'effet de ciseaux positif
Acompte sur dividende en hausse de +23 % et rachat d'actions exceptionnel de 1,5 Md€
Notation relevée par Fitch à « A+ » et perspective S&P passée à « positive »
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