Virbac Stock Rebounds by 2% and Attempts to Exit Oversold Territory
Mid-morning, the veterinary laboratory in Carros shows signs of recovery in a slightly bullish Parisian market. The stock rebounds after several sessions of consolidation that had brought it to a closely watched technical threshold. The RSI indicates seller exhaustion which this rebound is starting to correct.
A Technical Rebound Moving Away from the €329.50 Support
Virbac stock gains 2.12% to €336.50 during the session, after testing its support at €332 the previous day. The stock rebounds from the €329.50 zone, a floor identified where buyers are regaining control. The movement occurs in a supportive index context, with the SBF 120 up by 0.23% at the same time. However, the rebound remains limited compared to the accumulated decline: the stock is still down 1.75% for the week and nearly 4.7% over three months.
The RSI at 34, close to the oversold zone, reflects the exhaustion of sellers after the downward phase that had caused the price to break through its moving averages. The stock remains below its MM20 (€348.58), MM50 (€357.54), and MM200 (€349.11), with a gap of 3.47% to 5.88% depending on the horizon. Reclaiming the MM20 would be the next technical step observable to confirm the turnaround initiated.
Target Raised by TP ICAP and General Meeting Scheduled for Late June
The analysis context remains favorable since last month. On May 21, TP ICAP had raised its price target to €412 for the stock, while it was trading at €369. At the current price of €336.50, this target represents a gap of around 22%. The analysts' opinion thus remains positive, despite the consolidation of recent weeks.
On the calendar, the next event is the annual ordinary general meeting, scheduled for June 26. The veterinary laboratory, headquartered in Carros (Alpes-Maritimes) and chaired by Marie-Hélène Dick, has not communicated any specific news for the session. The underlying trend remains bearish over a month (-2.61%), but the stock maintains a positive performance over a year (+5.49%). The return to the MM20 at €348.58 will be the next technical marker to watch.
