Eramet shares rebound 2.5% and break back above key support
The mining and metallurgical group's stock is rising again on Monday, ranking among the best performers on the SBF 120 in a generally well-oriented Paris market. This rebound comes after a difficult week that saw the stock breach a key support level, in a quarterly context that remains under pressure.
An intraday rebound that does not yet offset the quarterly decline of 12%
Eramet gains 2.53% to €44.50 in mid-morning trading, after closing at €43.40 in the previous session. This surge takes place in a favorable market environment: the CAC 40 is up 0.8% and the SBF 120 up 0.72% during the session, a backdrop that mechanically supports cyclical stocks. Over the past week, the stock has declined a further 1.59%, and over three months the decline reaches 12.14%, a movement far greater than today's rebound alone can offset.
The current session gain thus eases quarterly pressure without eliminating it. As a reminder, the breach of support at €43.12 in the first session of last week had amplified short-term downward momentum; the price is now back above this level at €44.50, which gives it minimal room for maneuver against the €43.00 threshold.
Below its key moving averages, the stock seeks a stable technical anchor
Despite today's rebound, Eramet remains below its two primary moving averages: the 20-day MA at €44.93 (difference of -0.96%) and the 50-day MA at €44.75 (difference of -0.56%). These two thresholds, very close to the current price, form a tight technical ceiling that the stock has not yet breached. The 200-day MA, significantly higher at €53.83, signals the extent of the correction that began a year ago, with a difference of -17.33% from the current price.
The RSI at 41 remains in neutral territory, without marked selling pressure, which leaves technical room without signaling a clear inflection. On the operational front, the resumption of operations at the Weda Bay nickel mine in Indonesia, after four months of shutdown, had been welcomed in early September; since then, selling pressure has regained the upper hand. The next resistance level stands at €48.26, representing a difference of nearly 8.4% from the current price.
