Eramet's Stock Bounces 2.5% but Remains Oversold, RSI at 29
The mining and metallurgical group regains some ground during the session, contrary to its performance over the last month. The stock is among the top gainers in the SBF 120, even as technical indicators continue to trend downward in the medium term.
A Bounce That Barely Softens a Month of Sharp Decline
Eramet's stock gains 2.56% to €43.26, ranking among the top increases in the SBF 120, while the broader index is up by 0.28%. However, this rebound is modest compared to the recent trajectory: the stock is down 14.59% over one month and 19.74% over three months, bringing the annual decline to 18.22%. Today's movement occurs against the backdrop of a surge in Brent crude, which is up 3.22% at $90.94 per barrel and has risen nearly 20% in nine sessions, a context that supports the session for the non-ferrous metals sector stocks. At the end of June, the stock had already attempted an initial rally after several weeks of marked decline, but failed to reverse the underlying trend.
Stock Remains Below Its Three Moving Averages, RSI at 29
The technical setup remains unfavorable. The price is below the MM20 (€45.02, a gap of -3.91%), the MM50 (€50.23, -13.88%), and especially the MM200 at €56.29, more than 23% above the current price. An RSI at 29 indicates a significant oversold condition, consistent with the magnitude of the decline in recent weeks, and leaves room for technical rebounds like the one seen in the session. The support at €42.18 (which corresponds to the previous day's closing price) is the first level monitored for a downward move, while the resistance at €55.15 remains distant. Julien Burdeau took over as president of Eramet Ideas on July 1, as part of the group's innovation center.
