Nearly 6% lost in one week: TotalEnergies stock rebounds this morning
The oil company is gaining ground during the session, against the trend of a declining Paris market. The stock is approaching a technical threshold tested earlier in the week, while a new analyst note has just been published on the security.
A rebound towards €75 after testing support at €74.17
TotalEnergies stock gains 1.24% to €75.38 while the CAC 40 falls 1.07%. It ranks among the strongest gains in the index. Shell, its London peer, advances 1.40% on its side in London. The move follows a decline of 5.76% over the week: the stock had fallen below its support level at €74.17 on Friday before finding its footing, and it remains below its 20-day moving average (€78.46, representing a gap of 3.93%) as well as below its 50-day moving average, while it stays above its 200-day moving average (€71.49). The RSI at 36 reflects the exhaustion of this downward phase, with no reversal signal at this stage.
An analyst note and Brent above 100 dollars in the background
CIC Market Solutions maintained its buy rating on the stock today, with a price target of €106.70, representing a potential of approximately 41% from the current price. Brent is trading at 102.58 dollars per barrel (+0.32% during the session), in a context where the oil market remains tense. In terms of valuation, the consensus of analysts covered anticipates a projected P/E of approximately 7.4 for the current fiscal year.
The group also launched a share buyback program of €2.1 billion on September 28, executed at approximately 3% as of September 29. The next technical level to monitor remains the support at €74.17, tested on Friday.
