Elis Shares Drop 3.5% and Stumble at €28.22 Resistance
The circular services specialist marks a clear halt during the session, after several weeks of continuous rise. The stock attempted to break through its resistance before sharply retreating, in a Parisian market that was otherwise trending upwards.
A Clear Rejection at the €28.22 Resistance after an Attempt to Break Through
Elis shares fell 3.55% to €27.14, while the SBF 120 gained 0.21%. The session started on an aggressive note: the stock broke its resistance at €28.22 intraday, reaching a high of €28.24, before falling back below this threshold and turning red. This technical false start occurred at tense levels, with the RSI at 68 indicating a configuration close to overbought after several weeks of progress.
The price remains above its three moving averages, with a 7.02% gap over the MM200 at €25.36, which preserves the underlying bullish trend despite today's correction. The weekly decline now stands at 1.09%, but the three-month performance remains positive at 8.21%.
A Consolidation Following a Strong Corporate Momentum in Brazil and Spain
Today's movement comes after a particularly intense period for the group. On July 3, Elis had finalized the acquisition of ServBrazil, a month after purchasing the Catalan laundry RS10. On the same day, the stock had soared nearly 5% and was targeting the €29 mark.
Today's session erases part of this rally without questioning the medium-term trajectory, with the stock still up 11.05% over the year. Unlike Elis, the SBF 120 is driven by consumer stocks, with Rémy Cointreau, Pernod Ricard, and Carrefour leading. A sustained breakthrough of the €28.22 resistance remains the next technical milestone to follow to validate an extension of the bullish movement.
