Viridien's Stock Rebounds by 2%, RSI at 23 Near Key Support
The geoscience specialist catches its breath in mid-afternoon, as easing oil prices provide relief to oil-related stocks. The stock attempts stabilization after a dark series that brought it to its lows, amid extremely tense technical indicators.
A Fragile Technical Rebound After a Nearly 30% Collapse in Three Months
Viridien's stock gains 1.89% to €91.85, while the SBF 120 loses 0.43%. The rebound comes after the previous day's drop, which broke through a new technical level. Over three months, the stock is still down 29.72%, and nearly 18% over the past month. Today's rebound only partially mitigates this prolonged decline. The indicators remain deeply degraded.
The price is 15.85% below its MM20 (€109.15) and 24.20% below its MM50 (€121.18), confirming the trend break that began in early May. The MM200 at €105.91 also remains out of reach in the short term. An RSI at 23 indicates a marked overselling, consistent with the selling exhaustion observed after several bearish sessions. The price is just at the contact point of the support at €90.15, the holding of which will condition the continuation of the movement.
Brent Eases and Bearish Pressure Declared at a High for Several Months
The sector context offers a breath of fresh air. Brent is trading at $79.41 a barrel, down nearly 16% over ten sessions since June 8, following the signing of a memorandum between Washington and Tehran on June 18, foreseeing the gradual reopening of the Strait of Hormuz. For a stock directly exposed to the oil cycle like Viridien, this pullback usually weighs on activity expectations, but the market today seems to favor a reading of technical stabilization after the bearish excess.
According to reviewed statements, the cumulative net short position reaches 4.42% of the capital, spread across six funds, up 1.57 points over thirty days (from 2.85% a month ago). This rapid increase reflects a rise in selling pressure from institutional investors positioned against the stock, without it being possible to deduce their precise motivations. The threshold of €90.15 remains the zone to watch for the upcoming sessions, while the next communication deadline for the group remains to be confirmed in the financial calendar.
