GTT Stock Breaks Its Support at €190.60 and Falls by 2.78% During the Session
The French designer of LNG carrier tanks loses ground in early afternoon trading, in an otherwise positive Parisian market. The stock breaks through a closely watched technical threshold as oil continues its decline following easing tensions around the Strait of Hormuz. The publication of the semi-annual accounts is imminent.
The Stock Breaks the €190.60 Support and Slips Below Its Short-Term Moving Averages
GTT's stock falls by 2.78% to €185.30, while the SBF 120 index is up by 0.25% during the session. The stock breaks its support at €190.60, which it had been defending for several sessions, and intensifies a decline that began earlier in the week with a weekly loss of nearly 7%. The price is now below its MM20 (€198.61, a gap of -6.70%) and MM50 (€201.63, a gap of -8.10%), with the MM200 at €181.66 acting as the next support level in close proximity.
The RSI at 35 indicates recent selling exhaustion, without yet entering an oversold zone. The oil context weighs in, with Brent down 1.17% at $76.99, falling 8.7% since June 14, as maritime traffic around Hormuz resumes.
Semi-Annual Results of June 28 Awaited After a Series of LNG Contracts
GTT will publish its semi-annual results for 2026 on June 28, the next concrete milestone for the stock. The company has announced several commercial deals in recent weeks, including a Chinese order last week for three onshore LNG tanks of 240,000 m³ each, considered the largest in the world equipped with its GST technology. The designer's order book reflects a structural dynamic in the development of LNG, but the stock remains correlated to oil price fluctuations that dictate the investment schedule of shipowners and energy companies.
Over three months, the stock has lost 7.21%, though it still holds a gain of 10.23% over one year. The MM200 at €181.66, only 2% away from the current price, will be the next technical marker watched before the semi-annual publication.
