Crédit Agricole stock abandons its 16.92 € support, RSI in oversold territory
The green bank extends its decline while the CAC 40 advances, placing it among the weakest performers in the Paris index. The movement reflects a difficult month for the stock, amid persistent tension over French debt.
A support breached during the session and a price far from its three moving averages
The stock falls 1.63% to 16.64 €, while the CAC 40 gains nearly 0.5% at mid-session. It breached its support level of 16.92 € during the session, the previous close level, and remains below it. This decline adds to an already very negative month: Crédit Agricole loses 10.41% over one month and 7.22% over one week.
The price is 8.74% below its 20-day moving average and 5.91% below its 200-day moving average, while the RSI at 25 reflects an oversold configuration. In the CAC 40 ranking, the stock is among the largest declines of the session, behind Sanofi and Kering.
French debt at 4.9% and a 2027 budget whose adoption remains uncertain
The banking sector is operating in a context of elevated rates: the ten-year OAT stands at 4.90% according to the Banque de France assessment of October 1st, its highest level in the series since 2002. The spread with the Bund reaches 1.30 points, a peak since May 2012. The government also presented on October 1st its draft budget law for 2027, targeting a deficit of 5% of GDP with uncertain adoption in the National Assembly.
In terms of valuation, according to the consensus of analysts surveyed, the stock trades at approximately 7.2 times the earnings of the current fiscal year. The group also announced on October 1st the appointment of Élisabeth Moreno as independent director of its Grameen Foundation. The next technical reference point is the 16.92 € zone, now breached.
