Rejected at €421.60, Christian Dior stock declines following sales drop
LVMH's holding company loses ground at midday after publishing nine-month sales figures. The security briefly touched a closely watched technical level before falling back, in a Parisian market showing modest gains.
A resistance level broken intraday, then abandoned before the decline
The Christian Dior share loses 1.81% to €412 in a session where the CAC 40 gains 0.23%. In the morning, the security broke through its resistance at €421.60, with a high of €422, before falling back below this level. This intraday peak did not hold, and the price is moving clearly away from the 200-day moving average at €458.65, or more than 10% below this average.
It remains, however, above the 20-day moving average (€400.65), a cushion of approximately 2.8%. Over three months, the security is down 8.77%, and today's session extends this downward trend more than it contradicts it.
Sales of €57.1 billion over nine months and a less supportive China
The group published on October 12 sales down 2% over nine months, at €57.1 billion versus €58.1 billion a year earlier, due to a currency headwind of -3% and a scope effect of -1%. Organic growth stands at 2% over the period, but slows to +1% in the third quarter, after +3% in the second. Fashion and leather goods, which accounts for nearly half of sales, declined 5% on an organic basis over the quarter, while all other divisions advanced.
According to the statement, China is less supportive, while the United States, Europe and Japan experienced strong growth. The nearest technical reference remains the resistance at €421.60, tested on Tuesday.
