Kering Shares Up 2.1% to €250.15, Surpassing Short-Term Averages

Kering's Share Performance Amid Market Dynamics

Kering's shares increased by 2.1% to €250.15 during the session, ranking among the top gainers of the CAC 40. The Paris index rose by 0.65% to 8,199 points and the SBF 120 advanced by 0.51%, in a mixed European market environment. STMicroelectronics leads with an 11.11% increase, followed by Schneider Electric. The rebound of the Gucci owner's stock follows the momentum started at the end of May, after the technical resistance was broken the day after the general assembly on May 28. Over the month, the stock now shows a gain of 7.96%, which mitigates the decline of 12.15% accumulated over three months. On an annual basis, the stock is still up by 45.72%. The sector context remains fragile, with Chinese jewelry sales down 21.3% year-on-year in April according to official statistics. However, the Parisian luxury sector finds some breathing room this Tuesday, supported by a less anxious macro environment despite the ongoing geopolitical risk premium on energy.

Technical Thresholds: Surpassing MM20 and MM50, MM200 at €273.29 Remains a Resistance

In terms of thresholds, the price is now above the MM20 (€243.56) and MM50 (€248.02), with respective gaps of +2.71% and +0.86%. The crossing of the latter confirms the exit from the fragility phase observed in mid-May, when the stock had fallen to €231.35, near its support at €227.25. The MM200 at €273.29 remains 8.47% above the current price and constitutes the next medium-term hurdle. The RSI at 53 is in neutral territory, without signs of excess, while the MACD has moved back into positive territory. The technical resistance at €255.55 now limits the short-term potential. In terms of valuation, the stock is trading at about 38 times the earnings expected for the current fiscal year and 25.2 times those of the following year, according to the consensus of surveyed analysts. The €255 zone will be one to watch after this return above the short-term averages.