Eutelsat Shares Plunge Again, Breaking Support at €2.38
The satellite operator continues its slide at midday, extending a sequence of profit-taking that has heavily impacted the stock since the end of May. Selling pressure pushes the stock among the steepest declines in the SBF 120, as the Paris market also trends downward. The technical threshold monitored over several sessions has given way.
The Stock Breaks Its Support at €2.38 and Moves Away from All Its Moving Averages
Eutelsat shares fell by 2.85% to €2.35 at mid-session, in a Parisian market trending downwards (CAC 40 -0.75%, SBF 120 -0.75%). During the session, the stock broke through its support at €2.38, a pivot level identified in the technical data, and is now trading below this threshold. The deterioration is also evident in the moving averages: the price is below the MM20 (€3.25, gap -27.6%), the MM50 (€3.00, gap -21.5%) and the MM200 (€2.68, gap -12.2%), showing a clear bearish configuration across all time scales. The RSI at 35 indicates the selling exhaustion of recent sessions without yet entering a clear oversold zone. The stock has lost nearly 20% over the week and 38.6% over the month, marking one of the sharpest declines in the SBF 120. However, the operator remains up by 11% over three months, following a spectacular rally in the spring that had driven the stock to several-month highs before the turnaround at the end of May.
Regular Flow of LEO Contracts Fails to Stem the Correction
The commercial momentum around low Earth orbit connectivity continues to bolster the case yet fails to curb the sell-off. In June alone, the operator announced the signing of the CENTAURE contract with the French Ministry of Armed Forces, valued at up to €350 million over eight years, the renewal of the agreement with Mercury in Angola, as well as partnerships in Finland and the maritime sector. During the nine-month 2025/2026 results announcement (May 12, 2026), the company highlighted a 50% increase in revenue from its LEO activities, while also noting an unfavorable currency impact of €42 million for the period. This accumulation of commercial signals does not suffice to offset, in the perception of market participants, the increased competition since SpaceX's IPO. The next technical zone to watch is now below €2.38, after the break occurred during the session.
