Arkema shares regain the 57.50 € level ahead of its November 5 results
The specialty chemicals company benefits from a well-oriented session in Paris and moves back above a technical threshold identified a month ago. The publication of its quarterly results is expected shortly afterwards.
A 30-session threshold cleared, the MM200 remains within reach
Shares in Arkema gain 2.12% to 57.70 € and rise above 57.50 €, its highest level of the last 30 sessions, which has now become support. The breakout occurred during the session and the stock is holding it, with a last price at 57.75 €.
The price remains slightly below the MM200, at 58.10 €, i.e. 0.7% higher, although it has already recovered its MM20 and MM50.
The RSI at 63 accompanies this rebound without signaling excess. The stock is up 4.5% over the week and 7.2% over the month, but still down 5.6% over three months. It follows a CAC 40 rising 2.16% and an SBF 120 up 2.04%, in a market supported by the decline of the VIX to 17.41.
Third-quarter results on Thursday, November 5, following SBTi validation
Arkema publishes its third-quarter results on Thursday, November 5, an event the stock approaches at 57.70 €. At the time of the first-quarter release on May 6, EBITDA had declined 14%, with margins under pressure. The group subsequently raised its EBITDA by 7.4% in the second quarter and confirmed its annual guidance at the end of July.
On Tuesday, November 3, the chemicals company announced the validation by the SBTi of a net-zero target for 2050, a first in the chemicals sector according to the press release. On the technical side, the next resistance lies at 65.20 €, while the 57.50 € support is the level the stock has just reclaimed.
