Carrefour Shares Dip 0.7% at Close

Session Overview

The stock closed at 14.13 euros this Tuesday, down 0.7% from the previous day, in a session with low activity, with only 0.27% of the capital traded. This decline follows a challenging week, marked by a 0.49% decrease over seven days, yet the stock maintains solid gains over three months with an increase of 7.74% and over a year with a rise of 6.19%. From a technical perspective, the price is now above its three reference moving averages, at 14.06 euros for the MM20, 13.49 euros for the MM50, and 13.08 euros for the MM200, indicating a confirmed underlying bullish trend by the positive gap of 0.41 euro between the short and long moving average. The RSI at 55 indicates a neutral zone without overbought or oversold signals, allowing for technical consolidation. However, the stock remains close to its major resistance at 14.41 euros, a level that could hinder any short-term bullish acceleration.

Strategic Expansion in Ethiopia

Carrefour announced on January 5 the signing of a franchise and supply partnership with Queens Supermarket PLC, a subsidiary of the Midroc Investment Group, for the rollout of its brands in Ethiopia. The retailer will assist Midroc in transforming its thirteen Queen's stores into Carrefour banners, with an ambitious expansion plan. The first stores will switch to the Carrefour brand in the first half of 2026, and an additional 17 stores are planned by 2028. The group welcomed this move as it reached its target of expanding into 10 new countries under franchise as part of its 2026 strategic plan. This operation follows the announcement in December of a similar partnership in Ghana and is part of an international repositioning strategy aimed at enhancing the group's profitability. Regarding recommendations, Alphavalue downgraded its advice from buy to accumulate on December 8, while JP Morgan maintains an underweight recommendation with a price target raised to 10 euros, well below the current price.