Nexans Shares Bounce Nearly 3% Aiming to Reclaim €156
The French cable manufacturer regains momentum during the session, following a decidedly bullish Parisian market. The stock attempts to recover some of the losses accumulated over the past few weeks and approaches a closely watched technical threshold.
A Marked Rebound in a CAC 40 Boosted by Geopolitical Easing
Nexans shares gained 2.88% to €150.10 in mid-afternoon trading, in a Parisian market where the CAC 40 is up 1.07% and the SBF 120 is up 1.06%. The session is buoyed by the announcement of a framework agreement between Washington and Tehran extending the ceasefire and planning the gradual reopening of the Strait of Hormuz, which has led to a roughly 4% drop in Brent crude prices and has relieved the overall European indices. The cable manufacturer shows a 2.88% increase alongside cyclical stocks dominating the session's leaderboard. This rebound comes after a consolidation phase: the stock is still down 3% for the week and nearly 11% for the month, despite a performance that remains positive at over 27% for three months and close to 50% for a year.
The Stock Attempts to Reclaim its MM20 at €156.37 After Breaking Support at €148
On the indicators, the price moves above the MM50 (€149.01, a gap of +0.73%) and remains comfortably above the MM200 (€131.50, a gap of +14.14%), but is still below the MM20 at €156.37, representing a 4% lag which materializes the resistance zone to be reclaimed in the short term. The RSI at 39 indicates seller exhaustion in recent sessions without showing clear overselling, while the MACD remains negative (-1.76), consistent with the consolidation movement that began after the spring rally. As a reminder, the stock had broken its support at €148 last week, as mentioned in a brief from June 10, and the current rebound is building from the support zone identified at €144.90. The next technical step lies at the contact with the MM20, whose reconquest would condition the exit from the decline phase; beyond that, the major resistance remains positioned at €167.90.
