Ubisoft shares among the steepest declines in the SBF 120, down 14.5% over one month
The Breton publisher falls midday, in a Paris market heavily weighed down by the Wall Street correction. The stock extends a very difficult October and remains below all of its moving averages.
A decline that places the stock at the bottom of the SBF 120
The Ubisoft Entertainment share loses 3.29% to €4.33 intraday. It ranks among the steepest declines in the SBF 120, which itself falls 1.64% to 6,106 points.
The Paris session is hit by Wall Street's fall on Thursday, where the Nasdaq lost 5.52% and the S&P 500 4.36%, while the VIX jumps to 26.76. Over one month, the stock gives up 14.67%, and the day before, its rebound of nearly 4% had not changed the overall trend.
Moving averages and short positions outline a stock under pressure
The price is below the MA20 (a gap of 4.92%), the MA50 (12.25%) and the MA200 (11.17%), so that the week's rebound, of 2.39% over seven days, remains fragile against these three benchmarks.
The support at €3.91 is the closest level to watch in the data, with resistance at €5.35.
On the stock's market side, according to the statements consulted, ten funds together hold 10.36% of the capital in net short positions, a high level, down 1.23 points over thirty days. This decline signals hedging or profit-taking among short sellers, without it being possible to infer their intentions. The level nonetheless remains well above that of a lightly targeted stock.
