Michelin Shares Break €34, Marking One of the Best Performances on the CAC 40
The Clermont-based manufacturer continues its upward trajectory at mid-session, marking one of the best performances on the CAC 40. The stock breaks a technical level closely watched for several weeks, following the completion of an American acquisition in technical textiles.
The Stock Breaks the €34 Resistance and Reaches New Highs
Michelin shares are up 2.06% at €34.70 midday, among the strongest gains on the CAC 40 as the index itself is up 0.69%. The stock has broken through its €34 resistance during the session and remains above it, extending an already clear upward trend with +10.54% over one month and +16.01% over three months. The price is significantly above its three moving averages, with nearly a 5% gap over the MM20 (€33.06) and 8% over the MM50 (€32.11), indicating a solid underlying trend. The RSI at 63 remains in a bullish tension zone without tipping into overbought territory, leaving the next round level of €35 as an immediate benchmark above the current price.
Acquisition of Tex Tech Industries Extends Composite Strategy
The move comes in the wake of the completion of the acquisition of Tex Tech Industries, a specialist in technical textiles announced on July 1st. The cash-funded transaction is the third major acquisition in the Polymer Composite Solutions division since January, and the target generated $128 million in revenue in 2025. This shift towards specialty composites is part of a trajectory presented during the Media Day on June 9th and 10th, where the group highlighted that specialty tires represent 17% of its revenue with higher profitability.
In parallel, the gradual closure of the BFGoodrich site in Tuscaloosa announced at the end of June reflects an adjustment of the North American industrial apparatus. The breakthrough of €34 now sets the next technical round threshold of €35 as an immediate horizon.
