Pernod Ricard stock breaks through its support level at €58.72 and posts a 5-year low
The spirits group (Absolut, Jameson, Martell, Ricard) recorded a new multi-year floor in trading on Tuesday, extending a decline that began following the publication of its annual results in late August. The CAC 40 is meanwhile advancing by nearly 0.2% at the same time, which widens the gap between this stock and its benchmark index.
A five-year low broken during the session, the €58.72 support level breached
Pernod Ricard touched €57.98 in trading on Tuesday, beating its previous five-year downside record set at €58.10. The stock declined 0.78% compared to the previous close (€58.72) and remains below this level, which also corresponds to the support threshold identified by technical analysis. The breakthrough of this €58.72 support, now broken, constitutes a signal of a deteriorated configuration for the security.
Over one month, the decline reaches 7.82%, and over one year, the loss exceeds 30%, making the stock one of the most disappointing performers on the CAC 40 over the period. Rémy Cointreau, the only comparable listed on the Paris exchange, declined 0.33% in trading, evolving in a much more moderate range.
The slide accelerates in a highly degraded technical context and cautious guidance
The price is below its three moving averages: the 20-day MA at €60.60 (variance of 3.86%), the 50-day MA at €64.58 (variance of 9.79%) and the 200-day MA at €68.13 (variance of 14.49%). The RSI at 34 is approaching the oversold zone without having yet crossed it, reflecting a gradual exhaustion of selling momentum over several sessions, but without any reversal signal for the moment. This technical context follows in the wake of annual results published in late August, when the group indicated it anticipated organic revenue "broadly stable" for fiscal year FY 2026 (€9,440 million), in an environment described as "mixed and uncertain".
Cognac exports meanwhile experienced a decline of nearly 11% in value over 2024, according to FEVS data, which weighs on the prospects of the French export segment of which Pernod Ricard is a part. The nearest resistance is now identified at €69, or more than 18% above the current price.
