Eutelsat Shares Drop Nearly 3%, Down -28% for the Week
Eutelsat Communications continues its decline this Friday morning, extending a profit-taking sequence that began at the end of May. The stock is among the largest declines in the SBF 120, while the broader index is in the green. Pressure mounts as SpaceX's stock market entry is scheduled for June 11.
Stock Falls Below Its 20-Day Moving Average, Down Nearly 28% for the Week
Eutelsat Communications has fallen 2.92% to €3.22, bringing the weekly decline to nearly 28%. The correction has brought the price below the 20-day moving average (€3.43), with a gap of nearly 6%, after several weeks above it. The RSI at 50 indicates a return to the neutral zone, signaling that the overheating phase following the spring rally has largely subsided. However, the stock remains well above its 200-day moving average at €2.70 (a gap of more than 19%), reflecting the extent of its progress since the beginning of the year.
Additional LEO Partnership with Tototheo Fails to Halt Profit-Taking
The company signed a partnership agreement with Tototheo Global on Thursday for the distribution of its OneWeb LEO services to the maritime sector, businesses, and public administrations. The announcement was not enough to interrupt the selling movement, as the stock is still digesting the excesses of a 56.55% rally accumulated over three months. As a reminder, during the revenue announcement for the nine months of 2025/2026 on May 12, the group highlighted a 50% year-on-year increase in LEO revenue, while noting a negative currency effect of 42 million euros for the period. The performance remains at +9.32% over a month, and the technical support identified at €2.57 serves as a lower benchmark in case the downturn continues.
