Edenred stock breaks through its 24.30 € support level and falls 2.5%
The specialist in employee benefits and dedicated payments extends its decline in mid-morning trading, in a Paris market that is nonetheless trending upward. The stock has just breached a technical threshold downwards, just days after the publication of its quarterly revenue figures.
A 24.30 € support level broken in a rising CAC 40
The stock loses 2.66% to 23.81 €, among the strongest declines of the SBF 120, while the index gains 1.11%. It broke through its thirty-session low during the session, at 24.30 €, a level that now serves as resistance.
Only the MA200, at 23.13 €, remains below the price, with a gap of 2.94%.
Following a Q3 decline of 1.2% and a bond issuance of 800 M€
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On the analyst opinion front, Morgan Stanley lowered its target on October 28 from 35 € to 34.50 €, while maintaining its overweight opinion.
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