M6 - Métropole TV stock breaks above its 11.20 € resistance and extends its rebound
The broadcasting group posts a very strong session, clearly running against its recent negative track record. The move extends a rebound that began a week ago and brings the stock back up against a key technical threshold.
A 12% jump places the stock among the strongest gainers of the SBF 120
Métropole TV shares gained 12.06% to 11.34 €, the second-best performance in the SBF 120, while the index rose 1.49% at midday.
The stock shows a weekly performance of 12.28%, consolidated by its 12.06% gain recorded this Wednesday, while it remains down 4.87% over three months. This jump follows the publication, on November 3, of the third-quarter revenue: 294.5 M€, up 9.4%, with EBITA rising 4.2% to 39 M€.
Over nine months, revenue growth reaches 4.0%. On the analyst side, Deutsche Bank cut its target from 13 € to 11 € on November 2, while maintaining its hold rating, a level now close to the share price. The analyst consensus should be consulted to assess the stock's potential.
The stock breaks its 30-session high but remains below the MM200
During the session, Métropole TV broke through its highest level of the last 30 sessions at 11.20 €, a level that now acts as support. The share price is thus above the MM20 (10.21 €, a gap of 11.07%) and the MM50 (10.92 €, a gap of 3.85%).
The MM200 at 11.66 € remains, however, above the share price, at a distance of 2.74%, and constitutes the next level to clear. The RSI at 70 signals an overbought configuration after this surge. Above, the next resistance is at 12.98 €. The stock has rebounded from far off: on October 19, it had hit a 2022 low.
