Alstom stock breaks through its 15.28 € support and falls below its moving averages

The 15.28 € support breached, the stock already well below its three moving averages

Alstom is down 1.96% to 14.98 € in trading, while the CAC 40 and SBF 120 are advancing by 0.81% and 0.73% respectively. The stock ranks among the biggest losers of the SBF 120 this morning, contrary to a globally well-oriented Paris market. The most notable element of the session: the downward breach of the 15.28 € support, which corresponds to Friday's last closing.

This threshold had already been broken during the September 15 session, when the stock had breached a previous level at 15.50 €. The technical configuration remains degraded across all horizons: the price is 6.55% below the MA20 at 16.03 €, 6.72% below the MA50 at 16.06 €, and 27.21% below the MA200 at 20.58 €. The RSI at 40 does not yet signal outright oversold conditions, but reflects persistent selling momentum over several weeks, with -5.64% over seven days and -7.73% over three months.

Short positions stable at an elevated level, in a macro context of rising rates

Five funds cumulatively hold 4.52% of Alstom's capital sold short, according to declarations recorded as of September 17, 2026. This level remains elevated, although the total has slightly declined by 0.13 percentage point over one month. Such a volume of bearish positions does not necessarily reveal an acceleration of distrust, but indicates that institutional investors are maintaining significant hedging against this stock, and warrants monitoring over time. This Monday, major central banks are in the spotlight on the macro front: the Fed, the ECB, and the Bank of Japan all raised their key rates last week, in a tightening cycle fueled by soaring oil and gas prices.

This context of elevated long-term rates mechanically weighs on valuations of capital-intensive industrial groups such as rail manufacturers. On a fundamental basis, when releasing first quarter 2027 results (July 22, 2026), Alstom had confirmed its outlook for fiscal year 2026/27: organic revenue growth of around 5% and adjusted operating margin targeted at around 6.5%. According to the consensus of surveyed analysts, the stock is trading at approximately 9.6 times current fiscal year earnings and 7.7 times next fiscal year earnings. The next identified resistance level is situated at 16.91 €, representing a gap of more than 12% above the current price.