Michelin stock retreats and stumbles against its moving averages at €34.58

Michelin in the lower half of the CAC 40, at the level of its key moving averages

Michelin stock is down 1.65% to €34.58 in trading, ranking among the biggest decliners in the CAC 40, within an index that is essentially flat at 0.05%. The move brings the price precisely to the level of the 20-day MA (€34.60) and the 50-day MA (€34.56), two averages that the stock is brushing against without clearly breaking through. This convergence of the two short and medium-term reference points reflects a fragile equilibrium: neither a downside break nor an upside breakout.

The RSI at 48, close to neutral, does not signal any particular selling pressure. The next area of attention remains the support level at €34.01, approximately 1.7% below the current price, already tested in late August during a similar decline. On the upside, resistance at €35.14 coincides with the previous session's close (€35.16), making it a level that would be difficult to recapture quickly.

CIC Market Solutions maintains a "hold" rating with a €35 target

CIC Market Solutions confirmed on Monday its analyst consensus on the stock, maintaining both its "hold" rating and its price target at €35.00. This target level implies an upside potential of approximately 1.2% compared to the current price of €34.58, which reflects an appreciation barely different from the market price. In this context, the stock shows a gain of 1.2% over one month and 8.47% over three months, confirming a positive underlying trend since summer, despite a slight weekly decline of 0.58%.

Over one year, the gain reaches 11.73%, with the price remaining significantly above the 200-day MA at €31.69, with a gap exceeding 9%. The publication of first-half 2026 results, announced on July 28 with operating margin rising to 11.4% and revenue essentially flat, continues to form the fundamental backdrop of the case.