Eutelsat Shares Gain 5.13% to €2.99, Challenging the €3.02 Resistance
Eutelsat Communications' stock climbs 5.13% to €2.99 mid-morning, among the top gainers in the SBF 120. The broader index is up 0.75% during the session, with the CAC 40 up 0.74%. The stock is approaching a technical threshold repeatedly tested since the end of April.
The Stock Challenges the €3.02 Resistance After a 37% Rally Over Three Months
Eutelsat Communications' stock gains 5.13% to €2.99, marking a 37.52% increase over three months according to today's data. The stock is once again nearing its €3.02 resistance level, a barrier previously tested in April and early May. A clear break through this threshold would technically open up space above, but the stock has failed to surpass it on several occasions. The price is currently at the high end of the Bollinger Bands, at 83% of the range between €2.57 and €3.08. The RSI at 56 remains neutral despite today's surge, indicating a bullish momentum without an overbought configuration. The price is significantly above the MM200 at €2.67 (a 12% difference), confirming that the rebound from April's low is sustainable.
BNP Paribas Exane Raises Its Target and Eyes are on the Annual Results Due August 7
BNP Paribas Exane has raised its price target from €2.10 to €2.70, while maintaining a neutral stance as reported on May 18. The new target is still 9.7% below the current price, indicating that the recent stock rebound has outpaced the analysts' revisions. On the fundamentals, the third-quarter revenue published on May 12 showed a 65% year-on-year acceleration in LEO and a 13.3% contraction in Video activities. Net short positions reported are at 2.17% of the capital, down 0.20 points over 30 days according to the filings, indicating a slight unwinding of bearish bets. The next key event is the publication of the annual results for 2025-26 on August 7, 2026.
