Solvay Shares Mark the Strongest Rise in the SBF 120 at Mid-Session
The Belgian chemical company stands out sharply at mid-session on the Paris market, going against the trend of a declining European market. The stock benefits from a tone change by a German broker, while the broader index declines.
Deutsche Bank Raises Target and Upgrades to Hold, Stock Leads SBF 120
Solvay's stock is up 2.33% at €26.36, marking the strongest rise in the SBF 120 while the index is down 0.71%. This movement coincides with the revision published this Wednesday by Deutsche Bank, which upgraded its recommendation from 'sell' to 'hold' and increased its price target from €23.50 to €26.00. The new target remains slightly below the current price, but the removal of the selling advice relieves downward pressure that weighed on the stock. The stock thus recovers part of the 2.44% decline it suffered on Monday, which had placed it among the index's largest drops. This rebound occurs as rare earths remain a strategic focus highlighted in early June, with the memorandum of understanding signed with Viridis Mining and Minerals to secure a supply starting from 2028.
Stock Moves Above Its 20-Day Moving Average but Still Struggles with Longer Averages
With this gain, Solvay moves above its 20-day moving average (€26.11) by nearly 1%. However, the stock remains below its 50-day moving average (€26.86, a -1.86% gap) and its 200-day moving average (€26.93, a -2.12% gap), which form a tight technical resistance zone around €27. The RSI at 42 moves out of the lower zone without indicating any particular tension, and the MACD histogram slightly re-enters positive territory (+0.02). The performance remains modest over a year (-8.66%), but the stock becomes nearly stable over a month (+0.30%). A sustained crossing of the 50-day moving average (€26.86) and the 200-day moving average (€26.93), located around €26.90, would constitute the next technical milestone to watch in the case.
