Vinci stock falls below its 105.60 € support level, two days before earnings
The concessions, energy and construction group continues its decline mid-session, in a CAC 40 also in decline. The stock falls below a level defended for several weeks, two days before its third quarter earnings.
Stock falls below 105.60 € support and remains far from its moving averages
With a decline of 1.17% to 105.40 €, the Vinci stock falls below the 105.60 € support it had already tested in early October, while the decline reaches 4.87% over one month. The price remains below its MA20 (gap of 2.56%) and below its MA200 (gap of 14.61%), which places the stock far from its medium-term benchmarks. Vinci ranks in the lower part of the CAC 40, which is down 0.66% at mid-session, while Eiffage loses 1.75% and Bouygues 1.13% on the same session. The 105.60 € support was breached during Monday's session, and the RSI at 38.84 remains below the neutral zone.
CIC Market Solutions maintains its target at 141 € two days before third quarter earnings
The stock has lost more than 10% over three months, while the consensus remains oriented towards a buy: CIC Market Solutions maintained its buy opinion on Tuesday with a price target of 141 €, representing an upside potential of approximately 34% compared to the current price. This gap reflects both the stock decline and the level of the target. On the business side, Cobra IS obtained today a 165 million euro contract for a cooling facility intended for a data center campus in the Iberian peninsula, and the subsidiary says it is in the running for other phases of the project. The group will publish its third quarter results on October 22.
