Vinci stock breaks through its 105.60 € support ahead of earnings on October 22
The concessions, energy and construction group is posting a significant decline in a CAC 40 index also trending downward. The stock is approaching a level it has been defending for several weeks, three days before the publication of its third-quarter earnings.
A 105.60 € support broken and regained during the session
Vinci is down 1.94% to 105.95 €, compared to 108.05 € at the previous close. The stock briefly fell below its 105.60 € support level, reaching a low of 105.15 €, before recovering above it. This threshold had already been broken on October 5, a sign that it is being tested repeatedly. The stock is trading below its three moving averages, 2.3% below the 20-day MA and 14.2% below the 200-day MA, and has lost 10.2% over three months.
The CAC 40 is declining 1.38% at the same time, and Vinci ranks in the lower half of the index. Among comparable stocks, Eiffage is down 2.47% and Bouygues down 2.24%. Eiffage has lost 7.4% in one month, Bouygues 6.5%.
Third-quarter earnings expected on October 22
Vinci will publish its third-quarter results on October 22. A share buyback program of 270 million euros, announced on October 1, was approximately 11% executed as of October 13, representing 29 million euros repurchased. Over twelve months, the group has repurchased 1.1 billion euros in shares, or 1.8% of its market capitalization.
The RSI at 43 remains neutral. The next event is therefore the publication on October 22, with the 105.60 € support as the reference level until then.
