TotalEnergies Shares Drop 2.67%, Following Oil Trends
Shares of the French oil giant fell by 2.67% on Wednesday to €78.75, following the detachment of its third dividend installment. This decline occurs amidst high volatility in the oil markets, with Brent crude hovering around the symbolic $100 mark after statements by Donald Trump about a U.S. withdrawal from Iran.
Technical Factors and Oil Market Context
The 2.67% drop in TotalEnergies shares this Wednesday is partly explained by a technical factor: the detachment, the day before, of the third dividend installment for the current fiscal year. This operation mechanically triggers a downward adjustment in the share price, as the amount of the coupon is subtracted from the valuation. Beyond this calendar effect, the oil context adds nervousness. Brent crude briefly dipped below $100 in the morning, after the U.S. president announced on Tuesday evening a withdrawal of the United States from Iran within two to three weeks, without conditioning this decision on reaching an agreement. This statement initially eased crude prices, before they rose to $101.71 midday, indicating that traders do not yet believe in a lasting easing of tensions in the Middle East. Shell PLC, another major in the sector, also fell by 1.52% during the session. Meanwhile, the CAC 40 advanced by 1.97% during the session, highlighting the disparity between the dynamics of the Parisian index and that of the oil sector today.
Three-Month Performance and Upcoming Events
Despite today's decline, TotalEnergies' performance over three months remains spectacular, with a gain of 41.66%. This rally has pushed the stock well above its 50 and 200-day moving averages, located respectively at €67.46 and €57.16, indicating a well-established upward trend but also a significant departure from average levels. The Relative Strength Index (RSI) at 78, is above the conventionally set overbought threshold of 70. This indicator, which measures the magnitude of recent upward movements compared to declines, suggests that the stock has accumulated a rapid progression that may encourage short-term profit-taking. The nearest technical resistance is at €81.02, a level that the price nearly reached at the previous day's close of €80.91. The coming weeks are crucial on a fundamental level: the publication of the first quarter 2026 results is expected on April 29, followed by the annual general meeting scheduled for May 29. These events could provide new valuation insights to the market.
