Aperam Shares Bounce Back 2% and Rank High in the SBF 120
The Luxembourg-based steelmaker regains momentum midday, following a week marked by consolidation. The stock recovers in a well-oriented Parisian market.
A Technical Rebound Bringing the Stock Back to the 20-Day Moving Average
Aperam shares gain 2.06% to €49.46, while the CAC 40 rises by 0.77% and the SBF 120 by 0.73%. The stock thus returns to its 20-day moving average at €50.31, which it had lost over the past few days. The movement remains below the resistance zone of €53.05, repeatedly tested since the end of May and which had already halted the previous bullish breakout attempt, as mentioned in yesterday's session. The RSI at 49 indicates a buyer-seller balance after last week's decline, with the stock still down 6.77% over seven days despite today's recovery.
An Annual Rally Close to 81% Positions the Price Well Above Its Long-Term Averages
Amidst a technical rebound, the medium-term dynamics remain strong for the steelmaker: the stock has risen 34.62% over three months and 80.91% over a year. The price is 9.33% above the 50-day moving average (€45.24) and 35.36% above the 200-day average (€36.54), a gap that illustrates the magnitude of the rally since last fall. Citi had raised its price target to €50 on May 20, a level now within immediate reach. The €53 zone remains the technical lock to monitor to validate a recovery beyond the current consolidation corridor.
