These Stocks Could Soon Rebound... Or Not
The CAC 40 closed the week sharply down at 7,665.62 points (?1.82%), amidst high market tensions indicated by a VIX at 25.09. In this correction phase, five Euronext-listed stocks show an RSI dropped to 21, indicating a pronounced oversold zone, while approaching their technical support levels.
Intense Selling Pressure on Five Key Stocks
The five stocks of the day share an RSI at 21, a level traditionally signaling intense selling pressure and an oversold zone. All are trading less than 2% from their technical support: Amundi is priced at €71.60 with a support at €73.00, which it has thus breached, while Crédit Agricole, at €15.975, is just below its threshold of €16.26. Robertet (€783) remains close to its support at €790, as do Ferrari Group (€8.17, support at €8.30) and TomTom (€4.43, support at €4.45). Another common feature: these titles trade significantly below their 20-day moving average — Amundi is nearly 7% off its MM20 at €76.72, and Crédit Agricole is more than 8% below its MM20 of €17.46. For TomTom, the price even moves below its lower Bollinger band (€4.45), which could indicate an excessive bearishness to watch. However, a low RSI does not mechanically guarantee a rebound: a confirmed breach of support could instead trigger a bearish acceleration.
Disclaimer
This article is provided for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results.
