Viridien Stock Plunges 4% Breaking New Support, RSI at 24
The geoscience specialist continues its downturn in early afternoon, breaking through a new technical level. The stock is again suffering from the pullback in Brent crude, as the pressure from short sellers continues to intensify.
Stock Breaks the €93 Threshold and Sinks More Than 18% Below its MM20
Viridien stock falls 3.92% to €89.50 during the session, after breaking its support at €93.15. The decline reaches 20.1% over one month and 32.7% over three months, erasing a substantial portion of the gains accumulated earlier in the year. The stock is now significantly below its three moving averages, with a gap of 18.96% below the MM20 (€110.44) and 26.57% below the MM50 (€121.88), confirming the deterioration of the short and medium-term dynamics.
The RSI drops to 24, in a pronounced oversold zone, without this configuration currently halting the selling pressure. The break occurs as Brent crude falls 4.27% in the session to $79.62 a barrel, following the US-Iran agreement announced at the G7 in Évian and the prospect of reopening the Strait of Hormuz, a context that mechanically weighs on the oilfield services sector to which Viridien is exposed.
Net Short Positions Reach 4.49% of Capital, a Sharp Increase Over One Month
According to reviewed declarations, six funds now cumulatively hold 4.49% of the capital sold short, compared to 2.87% thirty days ago, marking an increase of 1.62 points in one month. This level reflects a significant rise in bearish pressure, with institutional participants either increasing their bets against the stock or seeking to cover existing exposure. The dynamic echoes the accumulation of lowered target prices mentioned in previous sessions, including the drop on June 10th below €109.60.
The macro oil context remains unfavorable: the International Energy Agency has warned of a potential oversupply if Iranian volumes fully return to the market, while global demand growth for 2026 is revised to -1.10 Mb/d. The next technical milestone in sight, the €93 zone, represents the last visible buffer before a return to the levels of late 2025.
