Michelin stock breaks through its support level at €34.01 and slides below the 20-day moving average
The Clermont-based tiremaker is among the CAC 40 stocks under pressure on Wednesday, with the Paris index itself declining sharply. The decline is accompanied by a notable technical breakthrough, with the penetration of a support threshold at €34.01.
A decline of nearly 3% that pushes the stock below its two initial moving averages
Michelin stock is down 2.89% in trading at €33.66, after closing at €34.66 the previous day. The movement is sufficiently pronounced for the stock to break through its support level at €34.01 downward, a threshold that had previously served as a short-term floor. This breakthrough is accompanied by a move below the 20-day MA (€34.66) and the 50-day MA (€34.63), with both moving averages now above the price with a gap of approximately 2.8%.
The 200-day MA at €31.80, well below the current price, represents the only remaining moving average support, with a positive gap of nearly 5.9%. The RSI at 51 remains neutral despite the magnitude of today's decline, which reflects the absence of characterized seller exhaustion at this stage. The stock is moving within a CAC 40 down 1.84% in trading, where virtually all stocks are in the red, with Michelin's movement thus part of a broad correction in the index.
CIC Market Solutions maintains its "hold" rating with a €35 target
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
Regarding analyst opinions, CIC Market Solutions maintained its "hold" opinion on the stock on September 7, with an unchanged price target of €35. At this level, the target implies an upside potential of approximately 4% compared to the current price. This position is taken in the same week as Monday's decline, already documented in the technical analysis from September 7 where the stock was bumping up against its moving averages at €34.58.
Over the trailing week, performance stands at -3.5%, bringing the monthly decline to -2.6%, while the three-month performance remains positive at +5.88%. Furthermore, Michelin launched on September 8 an employee stock ownership plan at €24.26, representing a 30% discount to the current price, open to approximately 114,000 employees in 44 countries. The next technical reference point to monitor remains the 200-day MA at €31.80, still approximately 6% below the current price.
SectorAutomobile et mobilité›Équipementiers automobiles
Free · every morning · before 9am
Never miss a move on your stocks
The trend behind the prices · Euronext
✓ You're in! Check your spam folder.
An error occurred.
Context
Period
Period: 9M 2026
Key reported figures
Revenue: 19 175 millions d'euros
Quarterly revenue: 19 175 millions d'euros
Revenue growth: -0,5 %
Guidance from the release
Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
Risks mentioned
Faiblesse persistante de la Première monte, qui fait reculer les volumes pneumatiques du Groupe de 0,8 % à fin septembre, en particulier en Tourisme Camionnette en Europe et en Amérique du Nord (en Chine, les ventes du Groupe progressent sur un marché en recul de 7 %)
Concurrence des pneumatiques importés à bas prix, notamment d'Asie, qui pèse sur les marques Tier 2 en Amérique du Nord, Tier 3 dans les principales régions et sur le Poids lourd en Amérique du Sud
Faiblesse persistante des Convoyeurs, liée à la prudence des clients miniers en matière de dépenses et à la faiblesse du marché du minerai de fer, notamment en Australie
Opportunities identified
Expansion de Polymer Composite Solutions soutenue par les acquisitions de Cooley Group, Flexitallic et TexTech en 2026 (chiffre d'affaires +21,9 % publié, -2,7 % hors effet de périmètre à cause des Convoyeurs)
Activité Mines en croissance, avec des gains de parts de marché, qui compense la pression sur le Hors-la-route (segment Spécialités -0,9 % publié, +0,4 % à périmètre comparable)
Dynamique positive de la marque MICHELIN en Remplacement avec volume de +4% en fin septembre
Outlook / guidance
Management commentary: Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
