Kering Breaks Resistance and Leads the CAC 40
Midday sees the luxury group's stock leading the CAC 40 in a Parisian market trending upwards. This movement comes a day after the general assembly, allowing the stock to surpass a technical threshold closely watched for several weeks.
Kering Up 2.75%: Breaking €256 Opens Path to MM200
Kering rises 2.75% to €257.85, marking the highest increase in the CAC 40 during the session, while the Paris index itself is up by 1.05%. The stock outperforms Airbus (+2.58%) and Accor (+2.55%) in a rebounding luxury sector, with Hermès climbing 2.2%. The movement is accompanied by a significant technical breakthrough: the price has broken its resistance at €255.95 during the session and is maintaining it. This area had limited consolidation for several weeks, and the stock has also notably moved above its MM20 (€241.39) and MM50 (€247.78), with respective gaps of 6.82% and 4.06%. The MM200, at €272.92, remains 5.52% above the current price, representing the next medium-term ceiling. The RSI at 55 indicates a buying momentum without an overbought configuration, and the MACD has moved above its signal line, consistent with the rebound observed since the low point on May 18 at €231.35.
A 5.4% Rebound in a Week Mitigates Quarterly Decline
Over seven days, the stock recovers 5.4% and brings its annual gain to 48.6%, while the three-month performance remains negative at -9.8%. Today's rebound partially offsets this quarterly decline but does not eliminate it. The sector context remains mixed: according to NBS data, sales of jewelry and gold in China were still down 21.3% year-on-year in April, a structural pressure point on luxury groups exposed to the area. In terms of valuation, according to the consensus of surveyed analysts, the stock is trading at about 39.2 times the expected earnings for the current fiscal year and 26.0 times those of the next fiscal year. The stock held its support at €227.25, tested on May 18, before climbing about 13% towards the €258 area.
