Accor share abandons its 46.90 € resistance ahead of its results
The multi-brand hotel group is declining mid-morning, in a Paris market clearly oriented downwards. It is placed in the lower half of the index, on the same day as the publication of its quarterly results. An upward revision of targets by an investment bank occurred yesterday.
A share price stuck to its moving averages, at the foot of a 46.90 € resistance
Accor is down 2.03% to 45.83 €, versus a CAC 40 declining 1.42%. The price is in contact with its 50-day MA (45.89 €) and its 200-day MA (45.82 €), while the day before it was trading higher, towards the 46.90 € resistance. Over the week, the share remains slightly up 0.84%.
This decline brings it back to its two medium and long-term moving averages, with an RSI at 50 which signals neither overbought nor oversold conditions. The session is also marked by tension on French debt: the 10-year OAT is at 4.99% according to the latest survey by the Banque de France on October 21, its highest since 2004, and the spread with the Bund reaches 1.58 points.
Third quarter results published today, following an upwardly revised target by Citi
The group is publishing its third quarter 2026 results this Thursday. During the first half results, published on July 30, the expected EBITDA for the following fiscal year came to 1,272.5 M€ in company data. The share presented itself at this deadline on its moving averages, without marked momentum, ahead of the publication of its results this Thursday. On Wednesday, October 21, Citi raised its price target from 61 € to 64 €, while maintaining its buy rating.
This target is approximately 40% above the current price. In parallel, the consensus of analysts remains to be monitored following today's publication. The company is also continuing its share buyback program of 225 M€ announced on July 30, executed at approximately 24% as of October 2.
