Eutelsat Communications stock rebounds but remains down 39% over 3 months
Eutelsat Communications posts a marked rebound on Monday, in an SBF 120 that remains balanced. The stock recovers ground after a difficult week and a particularly challenging September, while its technical structure remains weakened by a quarterly decline of nearly 40%.
A 2.32% rebound placing Eutelsat among the strongest gainers of the SBF 120
Eutelsat Communications gains 2.32% to €1.83 during the session, ranking among the strongest gainers of the SBF 120, in an index that advances by only 0.08%. The performance contrasts with recent trends: over one month, the stock still loses 14.54%, and over three months, the decline reaches 39.25%. Today's rebound thus only partially offsets a fundamental deterioration without erasing its scale.
The session unfolds in a muted macro context on European markets, with the CAC 40 changing only +0.12%, while the VIX rises slightly to 15.04, signaling moderate caution. Regarding selling pressure, recent briefs report sporadic support: at the beginning of September, Berenberg set a price target of €2.00, representing a potential of approximately 9% from the current price. The analyst consensus on the stock therefore remains to be monitored in the coming weeks.
A technical configuration under pressure, below the three moving averages
Despite today's rebound, the technical picture remains unfavorable. The stock trades below its 20-day moving average at €1.97 (gap of -7.08%), its 50-day moving average at €2.13 (-14.06%), and its 200-day moving average at €2.36 (-22.44%): the three moving averages stack above the price, forming a consistent technical ceiling. The RSI at 33 reflects selling exhaustion without reaching the clear oversold zone (below 30), indicating that today's rebound occurs in a context of persistent pressure, without a confirmed reversal signal.
The resistance level at €2.22 remains approximately 21% away from the current price, while support at €1.74 — already broken during the September 1st session — offers little solid foundation. On a fundamental basis, annual results published at the end of August showed LEO growth of 69.5% to €297 million, with net debt reduced by €1.16 billion, but the GEO segment continues to structurally weigh on the overall business, and the quarterly price decline of 39.25% illustrates the difficulty in convincing the market of the transition's soundness.
