Accor Shares Drop 2.5%, Among the Largest Declines in the CAC 40

Significant Retreat After Historic High, Stock Remains Bullish Above All Moving Averages

Accor loses 2.67% to €50.24 in early afternoon trading, down from €51.62 the previous day (closing at the historic high mentioned in our coverage of the absolute record). The stock is among the biggest losers in the CAC 40, as the index itself is down 0.75% during the session. Today's decline does not undermine the underlying bullish trend: the stock still shows a gain of 8.79% over one month and 21.59% over three months. The price remains above the 20-day moving average (MM20) at €47.25 (+6.33%) and well above the 200-day moving average (MM200) at €44.94 (+11.79%). An RSI at 73 indicates an overbought condition, which explains today's pullback after a series of aggressive sessions. The price remains below the resistance threshold of €51.62, which continues to be the high mark to watch.

Barclays Raises Its Target to €62 and Upgrades to Overweight

The session comes a day after a move by Barclays on the stock. The British firm upgraded its rating to overweight and raised its price target from €53 to €62, representing a potential upside of about 23% from the current price. This revision is part of a series of target increases previously noted in briefs dedicated to the stock. The session context remains unpropitious: the CAC 40 is down 0.75% and the VIX has risen to 20.06 (+7.68%), reflecting increased nervousness following the release of a May PCE in the United States at 4.1% year-on-year, keeping pressure on the Fed. In this environment, stocks that have recently made significant gains are subject to rebalancing, which fits the profile of Accor after its record the previous day. The eventual crossing of €51.62 remains the technical benchmark to follow for the future.