TotalEnergies Shares Break Below Support at €70.34, Among the Steepest Declines in the CAC 40

The Stock Breaks Its Support at €70.34 Amid Brent Retreat

TotalEnergies' stock fell by 1.84% to €69.51, marking one of the steepest declines in the CAC 40, while the index itself rose by 0.54% at the close. The stock broke its support at €70.34 during the session and finished below it, accentuating a decline of 11.62% over the month. This movement accompanies the drop in Brent, priced at $76.99 per barrel (-1.17% for the session, -8.7% since June 14), following the U.S. denial of Tehran's claim about the closure of the Strait of Hormuz and the prospect of the return of barrels previously blocked in the Gulf.

The technical setup remains heavy: at €69.51, the price is 7.22% below the 20-day moving average (€74.92) and 9.13% below the 50-day moving average (€76.49), while it still holds an 8.61% margin above the 200-day moving average (€64.00). The RSI at 31 indicates seller exhaustion in recent sessions, with no clear sign of a reversal. As a reminder, the stock had already plunged over 5% on June 15, becoming the worst performer in the CAC 40, driven by the same oil dynamics.

Mixed Analyst Opinions and Upcoming Dividend Balance Schedule

Analyst opinions published on June 23 send mixed signals. CCI initiates coverage with a buy rating and a target of €90.98, representing a theoretical potential of nearly 31% compared to today's price. BofA Securities maintains its buy rating but lowers its target from €86 to €82, which still leaves about 18% upside.

Based on the consensus of analysts surveyed, the stock is trading at approximately 7.0 times the earnings expected this year and 8.2 times those of the following year. Regarding the schedule, the detachment of the dividend balance is set for June 30. The downward breach of the €70.34 support is the central technical reference for the coming sessions, with the 200-day moving average at €64.00 as the next identifiable lower level.