Pernod Ricard Shares Climb 2.73% Breaking Resistance at €65.86

Breaking Resistance at €65.86 Accompanied by a Return Above Short-Term Moving Averages

Pernod Ricard shares gained 2.73% to €66.24, marking one of the strongest increases in the CAC 40 as the index rose by 0.54%. During the session, the stock broke its resistance at €65.86 and remained above it at the close, confirming a breakout from the range observed over several weeks. Simultaneously, the price moved above the MM20 (€63.07) and MM50 (€63.82), with respective gaps of 5.03% and 3.79%.

The MM200 at €74.64 remains out of reach in the short term, with the stock still 11.25% below, following a nearly 24% decline over the past year. The RSI at 56 supports the movement without indicating any particular tension, and the weekly gain now reaches 4.48%.

High Short Positions Persist and Sectoral Context Continues to Impact Exports

According to collected statements, five funds hold a combined net short position of 3.66% of the capital, an increase of 0.35 points over thirty days. This level, above the 3% capital threshold, reflects a bearish stance still present among several institutional investors, without any sudden acceleration over the month. This short-selling pressure can amplify movements in cases of forced buy-ins, as suggested by today's session, but does not predict the direction of future fluctuations.

The sectoral context remains degraded: cognac exports fell by 10.9% in value in 2024 according to the FEVS, and all French spirits declined by 6.5%, continuing to weigh on the growth profile of major exporters. On the stock market, the rebound brings the stock to 4.09% over three months, indicating that the negative sequence that began at the end of 2024 is pausing. The next technical threshold to watch is now between the €66 zone, found today, and the MM200 at €74.64.