TotalEnergies Shares Drop 2% and Fall Below a Key Support Level
In mid-morning trading, the French oil major falls, contrary to a CAC 40 that is also down but to a lesser extent. The stock is retesting a technical threshold that was already tested in late June, in a cautious market context despite strong crude oil prices.
The Stock Struggles at Its €70.34 Support and Ends Up at the Bottom of the CAC 40
TotalEnergies shares drop 2.19% to €69.09, among the steepest declines in the CAC 40, while the Paris index itself is down only 0.39%. The stock has returned to a support level identified at €70.34, previously breached on June 24, and has fallen below it again. The RSI at 31 is nearing the oversold territory, while the price moves away from its short-term moving averages (MM20 at €74.92 and MM50 at €76.49, both above the current price). However, the MM200 at €64.00 remains nearly 8% below the current price, preserving the underlying bullish trend observed over the past year (+29.2%).
A Decline Contrary to Brent's Rise Amid Ongoing Tensions with Iran
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Today's movement occurs despite a new surge in the barrel price: Brent is up 2.71% at $85.56, amid the reimposition of a U.S. naval blockade on Iranian ports and threats from Tehran on export corridors. The usual correlation between the major and crude oil did not hold this Thursday morning, as the stock aligned with the general market's caution. Over three months, the stock has lost nearly 10%. According to the consensus of analysts surveyed, the stock is trading at about 7.2 times the earnings expected for the current fiscal year. The next significant event: the publication of the second quarter and first half of 2026 results, expected on July 23.
SectorEnergie · Pétrole et gaz intégrés›Pétrole et gaz intégrés
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Context
Period
Period: 1T2026
Key reported figures
Revenue: 5394M$
EBITDA: 12552M$
Net income: 5810M$
Free cash flow: 8600M$
Guidance from the release
Portée par une croissance organique de sa production de 4 % sur un an.
TotalEnergies affiche des résultats en forte hausse au premier trimestre 2026.
Risks mentioned
Conflit au Moyen-Orient affectant la production.
Augmentation du besoin en fonds de roulement de 5,1 G$.
Opportunities identified
Croissance organique de production de 4 %.
Finalisation de la fusion de ses actifs au Royaume-Uni.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
