Unibail-Rodamco-Westfield Shares Climb 2% Challenging Resistance at €106.55

Boosted by BNP Paribas Exane's New Target of €113

Unibail-Rodamco-Westfield's stock increased by 2.18% to €103.30, compared to a 0.44% rise in the CAC 40 during the session. This movement follows the updated analyst opinion on July 1st by BNP Paribas Exane, which set its price target at €113 with an Outperform rating. At this level, the target is approximately 9.4% above the current price. The day's gain extends a well-oriented underlying dynamic, with a 4.09% increase over the month and a 26.48% rise over the year. The real estate firm benefits from a relaxed long-term interest rate environment, while the decline in the dollar and the significant slowdown in the U.S. job market observed in June fuel expectations of a more patient Federal Reserve, a traditionally favorable environment for listed real estate values.

Stock Above Its Three Moving Averages, Approaching €106.55 Resistance

The price moves above the MM20 (€99.09), MM50 (€100.60), and MM200 (€94.93), with an approximate 8.8% gap over the latter confirming the underlying bullish trend. The RSI at 56 remains in the neutral zone, leaving room before an overbought scenario occurs. The next technical milestone is the resistance at €106.55, while the €95 support coincides with the MM200 in case of a pullback. On the corporate front, the group finalized the dismantling of its legal structure at the end of June, after reaching a conditional agreement in early June to acquire the remaining 50% of Westfield UTC in San Diego for about $705 million, before completing the legal restructuring at the end of June. Today's session brings the stock a few euros shy of its €106.55 resistance, a key threshold for the continuation of the trend.