Air France-KLM stock among the best performers of the SBF 120, +4% in one week
The Franco-Dutch airline group (Air France, KLM, Transavia) is displaying one of the best performances of the broader index this Tuesday, in contrast to a nearly stable CAC 40 and an SBF 120 slightly in the red. The rebound occurs as the stock consolidates above its three key moving averages, in a market context that remains cautious amid geopolitical tensions.
A rebound that places the stock clearly above its key moving averages
The Air France-KLM stock is advancing 2.45% to €11.94 in trading, bringing its gain for the week to just over 4%. This movement confirms the momentum initiated on Friday, when the stock had already posted one of the best performances of the SBF 120. The price is now above the 20-day moving average at €11.57 (spread of 3.15%), the 50-day moving average at €11.86 (spread of 0.63%) and the 200-day moving average at €11.28, which positions the stock in a clearly positive technical configuration compared to previous weeks.
The RSI at 50 remains strictly neutral, with no signals of exhaustion or excessive buying, which leaves room before a potential return to the €12.22 resistance. The positive MACD histogram at 0.03 confirms that short-term momentum is gradually shifting upwards after a difficult sequence. Over three months, the stock is still down 14.63%, and the €12.22 resistance represents the next threshold to overcome to consolidate this turnaround.
A rebound that contrasts with the caution displayed when publishing half-yearly results
At the index level, Air France-KLM is among the strongest gainers of the SBF 120, while the CAC 40 is down 0.1% and the broader index loses 0.06% in trading. Among comparable stocks, Airbus is declining 1.11% and ADP is down 0.81%, which makes the Franco-Dutch airline group's advance all the more notable on a relative basis. On the fundamentals side, the valuation remains modest: according to the consensus of analysts surveyed, the stock is trading at approximately 3.4 times expected earnings for the current fiscal year, and 2.6 times those of the following fiscal year.
This level reflects the uncertainties weighing on the sector, which management had highlighted when publishing first-half 2026 results on July 30, referring to a "particularly volatile" environment and a revision of capacity with an agile approach. Furthermore, the group has a €1 billion share buyback program announced in June, a structural support element for the price. In this context, a sustained breakthrough of the €12.22 resistance would constitute the next technical milestone to observe in order to assess the strength of the rebound.
