Aperam share falls 2% with RSI dropping to 25, at its lowest level in 30 sessions

The lowest point of the last 30 sessions breaks and becomes resistance at €37.30

The Aperam share retreats by 2.2% to €36.48, while the SBF 120 loses 1.49% and the CAC 40 1.53%. The stock has broken through its lowest level of the last 30 sessions, at €37.30, a level that now becomes a resistance point. The RSI at 25 reflects the extent of the recent slide: the price loses 18.7% over one month and trades 8.8% below its 20-day moving average, 16.4% below its 50-day moving average and 15.4% below its 200-day moving average. The next support level is at €32.96.

A cautious update on the third quarter and energy in the background

The stock remains under the impact of the update released on October 6, in which the group confirmed expected EBITDA decline in the third quarter, with an energy bill estimated at approximately €20 million per quarter and unchanged European demand at a low level. Since that date, the stock has lost most of its spring gains, when it had reached a four-year high of €45.50. Brent is at $112.13 per barrel, up 3.04% on the session, a context that matters for a steelmaker whose energy costs are already central to its outlook. The €32.96 zone is the nearest technical level in the data.