Eutelsat Communications Shares Drop 2.59%, Threatening Support at €2.16
The satellite operator continues its slide in early afternoon trading on the Paris exchange, while the CAC 40 remains stable. The stock is among the lowest performers in the SBF 120, unable to halt the downward spiral that began in late May. Technical indicators remain significantly deteriorated.
A New Decline Bringing the Stock Closer to Its €2.16 Support
Eutelsat Communications shares fell by 2.59% to €2.296, marking one of the steepest declines in the SBF 120 while the broader index remains stable. The stock continues another session in the red, bringing its loss to 9.68% for the week and nearly 22% for the month. The technical setup remains heavily degraded: the price is moving below its three moving averages, with a 21.64% gap below the MM50 at €2.93 and 13.03% below the MM200 at €2.64. The RSI at 38 indicates persistent selling pressure, yet not reaching the oversold zone. The stock is approaching the €2.16 support again, tested last week as mentioned in a previous article. A break below this threshold could lead to a new multi-month low.
LEO Dynamics Fail to Offset Market Distrust
The slide contrasts with the flow of commercial announcements in recent weeks around the OneWeb low-earth orbit constellation. Notably, at the end of June, the group secured the Centaure contract with the French Ministry of the Armed Forces, worth up to €350 million over eight years, and expanded its maritime partnership with AST Networks. During the nine-month financial results of the 2025/2026 fiscal year (published on May 12, 2026), the company highlighted a 50% increase in LEO activity revenue year-over-year, while noting an unfavorable currency impact of €42 million for the period. The session's context does not help: the rise in Brent crude (+4% to $79 per barrel following new escalations around the Strait of Hormuz) weighs on stocks considered sensitive to risk premium and rising interest rates. The next major event will be the publication of the 2025/2026 annual results, expected in the summer. The €2.16 support remains the short-term technical reference level.
