STMicroelectronics stock, up nearly 2%, targets its 20-day moving average at 44.32 €

STMicro among the best gainers in the CAC 40, approaching a key technical threshold

STMicroelectronics gains 1.89% to 44.47 € during the session, ranking among the strongest gainers in the CAC 40, in a Paris index that advances 0.61%. This rebound brings the stock into contact with its 20-day moving average at 44.32 €, with a gap of only +0.33%: after several sessions below this average, the question of maintaining above it becomes central for short-term momentum. The RSI at 42 remains in neutral territory, with no signal of exhaustion or overbought conditions, which leaves room for the rebound.

The 50-day moving average at 49.48 € still caps the stock more than 10% above the current price, while the support at 42.22 € provides a floor in case of reversal. The MACD is slightly positive on its histogram (0.21), a sign that the selling pressure of recent weeks is beginning to ease.

A rebound going against the grain of American semiconductors, in a macro environment under tension

The advance of STMicroelectronics contrasts with the direction of its American peers at Thursday, September 10th close: Micron Technology lost 4.90%, Lam Research 5.65%, Advanced Micro Devices 3.36% and Nvidia 2.37%. In Europe, Asml Holding gained 0.62% during the session while Asm International fell 0.05%, confirming that ST's move remains unique this morning. The macro environment is nonetheless weighing: the ECB raised its key rate to 2.50% yesterday, and the U.S. August PPI came in at +5.4% year-over-year, reviving expectations of monetary tightening across the Atlantic.

For a semiconductor manufacturer whose sales are denominated in dollars and whose investment cycles are long, this environment of high rates and a strong dollar remains a variable to monitor. On the quarterly decline front, the three-month performance remains heavy at -27.5%, and according to the consensus of surveyed analysts, the stock is trading at approximately 20 times expected earnings for next year, a valuation that already incorporates a cycle recovery. The next significant resistance stands at 49.06 €, representing a gap of nearly 10% from the current price.