Technip Energies Shares Gain 3.5% and Test Their 20-Day Moving Average at €35.53
During the session, the share price reached €35.48, supported by the proximity of the 20-day moving average and a generally favorable analyst consensus. The stock attempts to reclaim its moving averages after several weeks of consolidation, while analysts maintain a positive outlook on the value.
A Notable Rebound Bringing the Stock in Contact with Its 20-Day Moving Average
Technip Energies shares gained 3.5% to €35.48 by midday, up from €34.28 the previous day. This movement brings the price just below its 20-day moving average (MM20) at €35.53, with a mere 0.14% residual gap. However, the stock remains below its 50-day moving average (MM50) at €37.58 (a gap of -5.59%) and its 200-day moving average (MM200) at €35.81 (a gap of -0.92%), indicating a still fragile medium-term dynamic.
The RSI at 37 is gradually moving out of the lower zone, accompanying this technical rebound from the identified support at €34.28. Over the week, the performance is up by +1.72%, while the monthly decline stands at -3.59%. Today's rebound mitigates this decline without erasing it.
CIC Market Solutions Reaffirms Buy Rating with a Target of €47
On June 10, CIC Market Solutions reaffirmed its buy opinion on the stock, with a maintained target price of €47. This level implies an upside potential of about 32% compared to the current price. Today's movement occurs as Brent crude falls by 5.17% to $88.29 a barrel, amid hopes for de-escalation in the Middle East, a context that traditionally weighs on oil-related stocks but does not hinder the rebound of the share.
In corporate news, the group has made multiple recent announcements: an EPCIC contract worth over one billion euros for the FLNG Coral Norte in Mozambique announced on June 8, and a partnership with Airbus, Safran, and Tereos for a sustainable aviation fuel project in Dunkirk unveiled on June 9. The resistance level to watch is now the MM50 at €37.58, whose reconquest would condition the exit from the bearish channel observed over the past month.
