EssilorLuxottica the Laggard of CAC 40, Threatened by a Key Support Level
The Franco-Italian optical giant continues its downturn in mid-afternoon, trailing a generally bullish CAC 40. The stock plunges below a new technical threshold, as a target revision by a broker adds to the pressure on the stock.
Stock Falls to €164.75, at the Bottom of a CAC 40 Boosted by STMicroelectronics and Accor
EssilorLuxottica's stock drops 2.28% to €164.75, down from €168.60 the previous day. The stock is the worst performer in the CAC 40, while the Paris index is up 0.69% at 8,443 points and the SBF 120 advances by 0.67%. The decline is part of an increasingly marked negative trend: -5.72% over the week and -14.53% over three months. Over a year, the stock has lost nearly a third of its capitalization.
The price is now well below the MM20 (€174.96, a gap of -5.84%) and the MM50 (€179.31, a gap of -8.12%), while the MM200 at €243.40 remains out of reach, with the price 32.31% below it. The RSI at 33 indicates seller exhaustion in the sequence, without yet tipping into a characterized oversold zone. The support at €162.25 is now within immediate reach, less than 1.5% below the current price.
Deutsche Bank Lowers Target to €181
Deutsche Bank lowered its price target from €183 to €181 yesterday, while maintaining its 'hold' rating. The new target still offers a theoretical potential of nearly 10% on current prices. This revision comes just days after the joint launch of Meta Glasses with Meta, available in 26 styles, which has not been enough to halt the slide.
The sequence continues after a capital increase observed at the beginning of June related to the payment of the 2025 dividend in shares (957,954 new shares). The market context adds diffuse pressure: the dollar is at a thirteen-month high, and expectations of Fed tightening weigh on the appetite for long-duration European assets like luxury goods. The support at €162.25 is the next technical marker to watch in today's figures.
