Virbac Stock Rebounds and Approaches its 200-Day Moving Average
The veterinary laboratory in Carros is recovering mid-session in a Parisian market strongly trending upwards following ECB announcements. The stock is attempting to reconnect with its medium-term technical benchmarks after several sessions of consolidation.
A Moderate Rebound Bringing the Price Close to the 200-Day Moving Average
Virbac stock has risen by 1.46% to €347.50, up from €342.50 the previous day. The movement remains modest compared to the SBF 120 session, which is up by 2.2%, placing the stock at the 68th position in the index. Today's increase brings the price close to the 200-day moving average (MM200) at €348.96, a mere -0.42% difference.
However, the stock remains below its 20-day moving average (MM20) of €352.88 (-1.52% difference) and its 50-day moving average (MM50) of €359.05 (-3.22% difference), indicating that the medium-term momentum remains fragile. The RSI at 40 indicates a lack of tension, following a 1.28% decline over the past month.
A Rebound in a Parisian Market Boosted by ECB's Decision
The session's context is favorable for European stocks. The ECB has raised its three key interest rates by 25 basis points, the first increase since September 2023, setting the deposit facility rate at 2.25% starting June 17. The institution justifies its decision with a Eurozone inflation rate of 3.2% in May, driven by energy prices. The CAC 40 is up by 2.27% and the SBF 120 by 2.2%, while the VIX has dropped by 16% to 18.66.
Virbac, whose business is minimally affected by interest rates and oil prices, captures part of this movement without being among the leaders. The stock maintains a year-to-date gain of 8.76%. The support at €339 and resistance at €372 now frame the trading range, with crossing the MM200 being a condition for moving towards the higher end of the band.
