Aperam shares rebound 1.5% but drop 27% over three months
The stainless steel producer recovered in early afternoon trading, in a well-oriented French market. This rebound comes one week after the publication of its quarterly results, which had left the stock in the lower part of the broader index.
A rebound that brings the stock back to its 20-day moving average
The Aperam share price gains 1.49% to €35.44, close to its MM20 (€35.40) after having remained below this average since early November. The stock nevertheless remains far from its medium-term benchmarks: it trades 11.8% below its MM50 and 17.8% below its MM200.
The RSI at 44 remains neutral, and the MACD, still negative, sees its histogram move back into positive territory. Over one year, the stock still holds a 15.3% gain, but it has lost 9% in one month and 27.2% over three months.
Support at €33 is now only 7% from the current price. At 21% from the current price, resistance at €42.98 is further away.
After the November 6 results, a stock seeking to stabilise its trajectory
The share price fell on the day of the third-quarter results publication: adjusted EBITDA of €105 million rose year on year but declined compared with €130 million in the previous quarter, with deliveries down 10.9%. The group then released its newsletter on November 9, in which it anticipates a slowdown in Indonesian nickel and confirms its deleveraging trajectory.
Aperam is among the gainers in the SBF 120, which rises 0.56% at the same time. In commodities, Brent crude is at $92.27 per barrel, down 13.3% since November 2.
The session therefore centres on the €33 level to hold on the downside, and on the MM50 at €40.20 to reclaim on the upside.
