Edenred Stock Breaks Resistance at €23.36 Despite 10 Short Sellers
Edenred shares continue their recovery that began several weeks ago, following a significantly bullish CAC 40. The stock extends its favorable technical momentum, even as short sellers remain positioned on the case.
Edenred Breaks Through Its €23.36 Resistance and Strengthens Its Technical Recovery
Edenred shares gain 1.84% to €23.79 during the session, with the SBF 120 up by 1.12%. The stock breaks through its identified resistance at €23.36 and records a weekly gain of 6.68%, and more than 21% over three months. However, its performance over one year remains negative, at -12.44%. The movement is supported by a tense technical setup: the price is 9.48% above the 20-day moving average (€21.73) and nearly 19% above the 50-day moving average (€19.96). The RSI at 72 enters an overbought zone, signaling a strong buying dynamic since the rebound that began in mid-May after testing €20.86. The breakthrough at €23.36 extends the bullish sequence documented during the surpassing of €22.07 on May 21.
A Still Prominent Bearish Bet on the Capital Despite the Stock's Rebound
Ten funds cumulatively hold 9.72% of the capital sold short according to reviewed declarations, a notably high level for an SBF 120 stock. The position has increased by 0.40 points over thirty days (from 9.32% a month ago), indicating a maintenance or slight strengthening of bearish bets even as the share price appreciates. This configuration warrants attention but does not yet signal a sudden acceleration: institutional players remain convinced of a potential decline or seek to cover exposure, but the pace of accumulation remains moderate. The continuation of the current rally could, however, expose these positions to a technical buy-back movement if the bullish dynamic continues. In the short term, the €23.36 zone, now surpassed, serves as the first technical reference monitored.
