Nexans shares rebound above its three moving averages
The Courbevoie cable manufacturer is capitalizing on a favorable Monday return to post significant gains, as the SBF 120 index also heads higher. The technical configuration is improving markedly, with the stock simultaneously moving back above its three key moving averages after several weeks of turbulence.
A rebound that restores Nexans to technical strength, above its three moving averages
Nexans gains 1.9% during the session and trades at €139.40, ranking among the strongest gains on the SBF 120 this Monday morning. The stock is now above its three moving averages: the 20-day MA at €138.70 (variance +0.50%), the 50-day MA at €136.72 (+1.96%) and the 200-day MA at €136.12 (+2.41%). This triple upside crossover contrasts sharply with the difficult sequence of the previous week, which had seen the stock decline 5.5% on September 14 and fall back below all of its moving averages.
The RSI at 48 remains neutral, leaving room before any overbought configuration emerges. The next resistance level stands at €144.70, representing potential upside of approximately 3.8% from current levels.
A heavy macro backdrop and half-year fundamentals supporting long-term visibility
The session unfolds in a mixed market environment: the CAC 40 gains 0.88% during trading, buoyed by a pullback in crude prices (Brent retreats roughly 2% to $101.71) which eases inflationary pressures on energy-intensive industrials. Simultaneously, major central banks have raised their key rates over the past week, maintaining tight financial conditions. Nexans published its first-half 2026 results on July 29. The group had raised its outlook at that time, targeting EBITDA of €805 million for the year, driven notably by its entry into the American low-voltage market through the Republic Wire acquisition and a PWR-Transmission line booked through mid-2028.
On the financial front, the €500 million bond issuance at 4.25% completed on September 10 enabled the group to refinance the bridge loan related to this acquisition, thereby strengthening its balance sheet. Over one year, the stock still posts a gain of 4.26%, but remains weighed down by a decline of 12.22% over three months. The support level at €131.40 constitutes the floor to monitor should today's momentum fail to sustain.
