Among the sharpest declines in the SBF 120, Abivax stock slips below its support level
The Parisian biotech company specializing in inflammatory diseases continues its decline in a downward-trending market. The stock finds itself far from its moving averages, following a series of difficult trading sessions.
Yesterday's support gives way, the price diverges from its three moving averages
Abivax declines 2.24% to €78.65, while yesterday's close was €80.45, the support level that has just given way. The stock loses 6.2% over seven days and 19.42% over one month, a decline that the short position covering mentioned in early October has not halted. The price remains below the MA20 (11.68% gap), the MA50 (19.80%) and the MA200 (22.65%).
The RSI at 31 approaches the oversold zone without entering it. In the SBF 120, which declines 0.34% during the session, Abivax ranks among the index's sharpest declines.
Short positions in sharp decline over one month but still elevated
According to filed disclosures, four funds cumulatively hold 4.67% of the capital sold short, compared to 7.17% thirty days ago, representing a decline of 2.50 percentage points. The reduction in this selling pressure has not prevented the price from slipping, which indicates a still significant level: a bearish bet that is unwinding, but far from being fully closed. Abivax is listed on two exchanges, with an ordinary share on Euronext Paris, eligible for the PEA, and an ADS on the Nasdaq since October 2023, at a ratio of one ADS for one share. The next price targets are to be found at the resistance level of €102.30, far from the current price.
