Cognac: Rémy Cointreau share breaks through 49.28 € resistance, RSI at 73
The cognac producer extends its rebound and establishes itself in the upper half of the Paris index, in a well-oriented market. The session is part of a recovery initiated several weeks ago, which has already brought the share far from its moving averages.
Resistance broken during the session, a week with nearly 18% gain
The Rémy Cointreau share gains 2.37% to 50.45 €, after breaking through the resistance level of 49.28 € during the session, the previous day's closing level, and holding above it. The next threshold is located at 50.50 €, just a few cents from the current price. The share displays a 17.76% gain over seven days, a movement that places it more than 16% above its MA20 (43.39 €), while the RSI at 73 signals an overbought configuration.
The session follows the 3.5% gain of October 14, in an SBF 120 that advances 0.32% in early afternoon. Pernod Ricard, another spirits value, gains 2.43% and still declines 3.27 percentage points less than Rémy over three months: the comparable shows a 12.69% gain over one month, compared to 17.38% for Rémy Cointreau.
A rebound supported by new analyst opinions and capital more exposed to downside
Net short positions declared on the value reach 4.87% of capital, distributed among five funds, an increase of 0.23 points in thirty days. This level remains elevated: some institutional investors remain positioned against the share, or are hedging exposure, despite the rebound. The recent increase may also be accompanied by buybacks of these positions, although the declarations consulted do not allow this to be confirmed.
The context remains mixed for the sector, with cognac exports declining 10.9% in value on the 2024 balance sheet. On the financing side, the group had placed on October 1st 250 million euros of hybrid bonds at 6.75% to support its debt reduction. The 50.50 € level is the one to watch for the continuation of the movement.
