Aperam Drops 2% and Consolidates After a 14% Rise in a Month
The Luxembourg-based steelmaker reached a new multi-year high during the session, before significantly retracting. The stock has fallen below its historical resistance after approaching a peak not seen since the start of the war in Ukraine.
An Intraday Record of €53.85 Quickly Erased by Profit-Taking
Aperam reached €53.85 during the session, a peak not seen in four years, surpassing the previous high of €53.75 recorded at the start of the Russian invasion of Ukraine. The resistance at €53.05 was breached upwards before the stock fell below it again. The price is now at €51.95, down 2.07% from the previous day. This movement reflects profit-taking after a marked rally: the stock is still up +14.5% over one month, +34.4% over three months, and nearly 95% over a year. The session remains highly volatile, with the SBF 120 up 0.85%.
The decline occurs without any corporate news for the day. As a reminder, Citi had raised its target to €50 on May 20, as mentioned in a previous note: this level is now significantly exceeded by the current price.
The Stock is in an Overbought Zone, 45% Above its MM200
The rally in recent weeks has moved the price away from all its medium-term benchmarks. The MM200 is at €35.85, nearly 45% below the current price, and the MM50 is at €43.63 (about 19% below the price). An RSI of 72 confirms an overbought configuration, consistent with the intraday drop from the day's peak. The failed breach of €53.05 establishes this level as an immediate technical lock; below, the MM20 at €49.53 remains the first intermediate reference.
The next step for the stock remains the evolution around the €53 zone, where a clear break would pave the way for an extension of the rally, while a return below the MM20 would mark a change of pace.
