Kering stock hits lowest point in 250 sessions at €178.12
The luxury group owning Gucci and Saint Laurent continues its decline mid-morning and settles at the bottom of the CAC 40. The stock is now trading below its twelve-month floor level, as two brokerage houses published their new targets during the day.
A support level of €178.12 breached, RSI falls to 21
The price of Kering loses 1.62% to €176.60, below the lowest point of the last 30, 150 and 250 sessions, set at €178.12. This threshold gave way during the session and becomes a resistance level: the stock no longer has an identifiable support below its current price.
The RSI at 21 signals an oversold configuration, following a decline of 20.9% over one month and 18.4% over the week.
The price remains 14.4% below its 20-day moving average and 29.6% below its 200-day moving average. In the Paris index, nearly flat (-0.06%), Kering is the second-to-last value in the CAC 40, ahead of only Dassault Systèmes. The stock had already hit a five-year low on October 23, following the third quarter revenue figure, flat at €3,345 million.
Citi lowers its target to €201, AlphaValue targets €265
Two analyst opinions dated today diverge sharply. Citi lowered its price target from €243 to €201 and remains at a neutral opinion, leaving an upside potential of approximately 14% compared to today's price.
AlphaValue for its part publishes a target of €265, with a buy opinion, representing an upside potential of approximately 50%.
Details of these positions are available in the analyst consensus on Kering. The group also announced on May 28 a share buyback program of €8.6 billion. The next technical level to watch is the former support of €178.12, now positioned above the current price.
