EssilorLuxottica Shares Decline Further, Threatening Key Support at €162.25
The Franco-Italian optical giant continues to fall mid-morning, extending a downward trend that has been weighing on the stock for several sessions. It is among the biggest losers in the CAC 40 as the Paris index pulls back amid still tense geopolitical context around the Strait of Hormuz.
The stock sinks towards €162.25 and remains far from its long-term averages
EssilorLuxottica shares are down 1.99% at €165.30, after a previous close at €168.65. The stock ranks at the bottom of the CAC 40, in an index that is down 0.34% during the session. The drop brings the decline to 4.75% for the week and nearly 30% for the year, marking one of the worst annual performances on the Paris stock exchange.
The price is now very close to the technical support identified at €162.25, a zone that had not been tested for several sessions and whose breach could open a new level of decline. The stock remains below all of its moving averages: the MM20 at €174.20 shows a gap of -5.11% (the price is 5.11% below this average), the MM200 at €242.41 shows a gap of nearly 32% illustrating the magnitude of the correction since last fall. The RSI at 41 remains neutral but is sliding towards the lower zone, indicating persistent selling pressure without a marked overselling signal at this stage.
The downturn continues, despite recent announcements with Meta and Applied Materials
The negative trend is setting in: the stock had already finished as the worst performer in the CAC 40 on June 25, after falling 2.5% the day before despite the joint launch with Meta of the Meta Glasses in 26 styles. The rebound that started at the end of May, which had brought the price back above €180 in early June, has fizzled out, and the partnership with Applied Materials announced on June 17 on optical systems for smart glasses has not been enough to reverse the trend. The market context adds to the pressure, with a CAC 40 weighed down by caution amid persistent tensions in the Middle East.
Furthermore, on June 2, the group noted its capital increase related to the payment of the 2025 dividend in shares, an operation that resulted in 957,954 newly issued shares. The support at €162.25 remains the immediate benchmark for the session, pending the next statutory meeting and the publication of the half-year accounts.
