Nexans share slides below its 131.40 € support level, short sellers at 1%

A 131.40 € support broken during the session, below the three moving averages

The Nexans share is down 2.7% to 129.80 € versus 133.40 € the previous day, while the SBF 120 is down 1.05%. The security has broken through its 131.40 € support level during the session and remains below it. It is also trading below its 20, 50 and 200-day moving averages, with gaps of 4.81%, 5.39% and 5.08% relative to the price.

Friday's rebound, which had brought the security to the level of the 200-day moving average, is thus erased, following an initial decline on Monday. Over one week, the security is down 2.55%. The RSI at 46 remains neutral and leaves room before any oversold zone.

Beyond the price: the cost of French debt weighs on the Paris market

Net declared short positions reach 1% of capital, driven by two funds, representing a gain of 1 point over thirty days, with the last declaration dating from October 2. This level remains modest and reflects a still-limited bearish bet. On the fundamental side, the group had raised its outlook for 2026 when publishing the first half 2026 results on July 29, 2026, with an EBITDA target of 805 M€, while signaling an unfavorable mix effect in PWR-Connect.

The session is taking place in a context of tension on French debt: the 10-year OAT was at 4.72% on October 6, 1.27 points above the German Bund, and the CAC 40 is down 1.11%. The price now needs to be watched around the 131.40 € support level, broken today.