Viridien Shares Drop by 3.5%, Threatening the 90€ Threshold
The geoscience specialist undergoes another session of significant decline, settling at the bottom of the index. The stock suffers from the sharp downturn in Brent crude prices, while the pressure from short sellers continues to rise.
Viridien Continues to Lose Ground, Falling Below All Moving Averages
Viridien's stock drops 3.62% to €94.60 by mid-morning, marking the steepest decline in the SBF 120 while the broader index is up by 0.74%. The stock thus extends a losing streak that has left it down by 15.69% over a week and 22.78% over three months. The easing of oil prices mechanically weighs on this value directly exposed to the oil cycle, with Brent crude falling by 7% in the wake of the preliminary agreement between Washington and Tehran on the reopening of the Strait of Hormuz. The technical backdrop has significantly deteriorated.
The price is now below the MM20 (€112.50), the MM50 (€123.31), and the MM200 (€105.37), with a gap of more than 23% on the 50-day average. The RSI at 27 indicates a pronounced oversold configuration, consistent with the seller exhaustion observed in recent sessions. The stock is now well below its technical support at €98.15; the next identified support level is significantly lower.
Persistent Downward Pressure with Rising Declared Short Positions
Beyond the oil context, the stock remains under the influence of a degradation in analyst opinions that began several sessions ago: a major broker lowered its price target at the beginning of June, triggering a drop of more than 6% that broke the support at €109.60. Since then, the stock has continued to tumble and broke the symbolic threshold of €100 at the end of last week. On the flow side, institutional bearish pressure remains highly visible. According to reviewed declarations, five funds accumulate 3.91% of the capital sold short, an increase of 1.04 percentage points over thirty days.
This level, significantly above the usual thresholds of simple coverage, reflects the continuation of a marked bearish bet by institutional investors on the stock, although their precise motivations cannot be deduced. Combined with the relapse of Brent, this configuration explains the difficulty of the stock to initiate a technical rebound, despite an RSI now deeply in the oversold zone. The next reference point to monitor remains the holding of the 90€ threshold.
