BNP Paribas share breaks below its 200-day moving average, with RSI fallen to 28
The bank extends its decline at mid-session, in a Paris market oriented downwards. The security has been trading ex-dividend for several weeks, and its decline is part of a dynamic established since the end of summer.
A security below its three moving averages and in oversold territory
The BNP Paribas share falls 1.39% to €86.12, compared to €87.33 at Monday's close. It loses 11.76% over one month, taking into account the coupon of €3.23 detached on September 24, and its price is now below the 20-day MA (gap of 7.35%), below the 50-day MA (12.51%) and below the 200-day MA (6.85%). The breach of the 200-day MA gives scope to the movement: this long-term threshold had not yet given way in previous sessions, even though the support at €88.94 had already broken on Monday.
The RSI at 28.3 places the security in oversold territory. In the CAC 40, the value is among the steepest declines in the index, which falls 0.65% during the session. Société Générale (-1.83%) and Crédit Agricole (-1.11%) are also in the red, with respective declines of 15.79% and 16.82% over one month.
A Paris market penalized by tension over French debt
Weekend violence, on the sidelines of protests against the cost of living, complicates an already strained budgetary context. The yield on the 10-year OAT reached 4.85% on October 19 according to the Banque de France, within 5 basis points of its recent peak, with a spread of 1.42 points over the Bund. Moody's is to re-examine France's rating on October 23.
Historically, the BNP Paribas share price evolves inversely to the OAT-Bund spread, the bank carrying government debt on its balance sheet. On the valuation front, according to the consensus of analysts surveyed, the share is priced at approximately 7.4 times current fiscal year earnings. The bank is to present its 2030 strategic plan on February 2, 2027.
