Legrand Shares Bounce Nearly 2% Targeting Its 200-Day Moving Average at €140

A 1.81% Bounce Brings the Stock Close to Its 200-Day Moving Average at €140.18

Legrand shares are up 1.81% at €137.85, among the highest gains in the CAC 40, which itself is up by 0.54%. Today's rebound comes after a significant pullback, with the stock still down 9.01% over the month and 8.8% over the quarter. It remains below its three moving averages, with a gap of 3.85% to the MM20 (€143.37) and 5.32% to the MM50 (€145.60).

The MM200, at €140.18, is the closest reference point: the price is currently 1.66% below it, and crossing this threshold would require an additional increase of this margin. The RSI at 35 indicates the selling pressure over the past weeks, while the MACD continues to trend downward (histogram at -0.75). The support level identified at €133.55 was not tested during the session.

A Rebound in Line with a CAC 40 Boosted by Cyclical Values

Legrand's rebound accompanies a favorable session for European cyclicals, with ArcelorMittal (+3.24%), STMicroelectronics (+2.58%), and Schneider Electric (+2.11%) leading the CAC 40. However, the macroeconomic context remains mixed for the electrical equipment supplier: the European construction sector continues to deteriorate in June, with the construction climate in France at -18.2 and housing permits in France down by 5.5% over the past twelve months. French construction production has decreased by 0.7% year-on-year.

Regarding recent benchmarks, the session on July 16 saw the stock drop below its MM200, a sequence that today's rebound seeks to correct. The monthly volatility stands at 8.49%. The MM200 at €140.18 remains the next technical benchmark to watch.