Eutelsat leads the SBF 120: stock soars 19% during trading session
The satellite operator sharply reverses the previous session's decline. The stock dominates its index in a Paris market slightly tilted upward, while the OneWeb Indian matter remains at the center of discussions.
A rebound that brings the stock back to its 50-day moving average
The price of Eutelsat Communic. stock climbs to €1.80 during trading, representing a gain of 19.03% compared to the previous day (€1.51). Over one week, the advance reaches 27.67%. The movement provides relief to a stock that still loses 19% over three months and 42% over one year.
The price now sits at the level of the 50-day MA (€1.79) and above the 20-day MA (€1.58), while the 200-day MA (€2.29) remains far above, more than 21% from the current price. The resistance threshold at €1.95 is the next level in sight, approximately 8.6% from the current price. The RSI at 43 remains in neutral territory despite the magnitude of the session.
The OneWeb Indian matter back in the spotlight by Sunil Bharti Mittal
On October 14, Eutelsat OneWeb hoped to obtain final regulatory approvals necessary to launch its satellite Internet services in India before Starlink. Sunil Bharti Mittal, chairman of Bharti Enterprises and principal shareholder of Eutelsat, had mentioned the progress of the regulatory procedure. The stock had then surged more than 10%, before declining 6% on Thursday. Today's trading session places the stock at the top of the SBF 120, well ahead of SES (+6.99%) which holds second place.
