Genfit shares: the 8.92 € support wavers but holds during the session
The Lille biotech is attempting to stabilize after a very difficult month. The stock briefly fell below a technical threshold closely watched by traders before recovering above it, in a Paris market oriented downward.
A support level broken through and then recovered during the session
The Genfit share gains 1.54% to 9.24 € in early afternoon, while the SBF 120 declines by 0.5%. During the session, the stock fell to 8.82 €, below its 8.92 € support level, before returning above it. This rebound comes after a decline of nearly 33% over one month, and the price remains significantly below its 20-day moving average (gap of 17%) as well as its 50-day moving average (gap of 27.7%).
The RSI, at 33, reflects this accumulated selling pressure from recent weeks. The 200-day moving average, at 9.53 €, is the closest average: the price is 3% below it.
Short positions increase following half-year results
The first-half results, published on September 28, showed Iqirvo royalties tripled to 21 million euros, cash reserves of 113.8 million euros and a net loss of 26.1 million euros. The stock had briefly rebounded at that time before resuming its decline. According to the filings consulted, cumulative net short positions account for 2.07% of capital, distributed among three funds, representing an increase of 2.07 percentage points over thirty days.
This level remains modest: it indicates that a limited fraction of capital is positioned against the value, without allowing for any definitive conclusion on its own. Over the year, the stock is still up 164%, which puts the recent correction into a broader perspective. The key level to monitor remains the 8.92 € support, which the price has just tested.
