Nexans share breaks below its 122.10 € support level, just days before earnings release

A decline of nearly 3% that breaks the 122.10 € support

Nexans share is down 2.95% to 118.50 € during trading, compared to 122.10 € at the previous close. The 122.10 € level was acting as support: the share breaks through it and finds itself clearly below its three moving averages, with the 20-day moving average at 132.10 € being 10.3% above the price and the 200-day moving average at 136.81 € at 13.4%. Over the week, the value has lost 10.16%, and the RSI at 32 places it at the lower end of its range without reaching the oversold zone. Today's decline exceeds that of the SBF 120, which is down 0.69%, and places the share among the strongest declines in the index.

This movement extends a series of hesitant sessions. The share had already broken its 131.40 € support on October 7, then attempted a rebound on October 12 before falling again. In a Paris market penalized by tension over French sovereign debt, with the 10-year OAT at 4.85% according to the latest Banque de France data, cyclical stocks are generally struggling to recover.

Third quarter results expected on October 22

Nexans will publish its third quarter 2026 results on October 22, a closely watched milestone following a guidance upgrade when first-half results were released. On July 29, 2026, the group had raised its annual targets, with EBITDA guidance set at 805 million euros. Among the points mentioned on that occasion were the normalization of PWR-Transmission, whose organic growth reached -6.2% in the second quarter, as well as an unfavorable mix effect in PWR-Connect, where the margin fell to 11.8% versus 13.6%.

On the opportunities side, the group highlighted the acquisition of Republic Wire, which opens access to the North American low-voltage market, and approximately 23 million euros in synergies expected within three years. The share is trading 1.82% lower than a year ago, following a year marked by significant volatility. The October 22 meeting sets the next numerical benchmark for the value.