Rémy Cointreau stock breaks through its 51.55 € resistance then declines 2.5%
The cognac producer pauses after several weeks of recovery. It briefly exceeded a technical threshold during the session before retreating, in a Paris market oriented downward.
A resistance at 51.55 € broken during the session then abandoned, after a rise of nearly 18% over the week
The Rémy Cointreau stock declines 2.42% to 50.30 € during the session, far from its daily high of 51.80 €. The security had nevertheless broken upward through its 51.55 € resistance before falling back below it, a scenario already observed last Wednesday when it had broken through its 49.28 € resistance. This pause comes after a gain of 17.63% over one week, which brought the price 14.6% above its 20-day moving average (43.88 €). The RSI at 77.72 signals an overbought configuration, and the security ranks in the lower part of the SBF 120 for the session, while the index declines 1.33%.
Pernod Ricard, another spirits sector value, loses 0.64% today after a gain of 14% over one month, against 20.6% for Rémy Cointreau. The two securities follow a parallel trajectory, a simple observation of curve proximity. Regarding activity, the sector's economic situation remains marked by a sharp decline in cognac exports, down 10.9% in value over the 2024 balance according to the FEVS.
A Paris market under tension, between OATs at 4.79% and budgetary concerns
The Paris session is oriented downward: the CAC 40 declines 1.35%, in a context of tension on French debt. The 10-year OAT is at 4.79% (Bank of France update from October 16), or 1.37 points above the German Bund, and 28 basis points above its level one month ago. Discussions on the 2027 budget continue at the National Assembly.
Regarding positions, the declarations consulted identify five short-selling funds, which cumulatively hold 4.87% of capital, up 0.32 points over thirty days. This elevated level shows that a portion of institutional investors remains positioned against the security after its strong recovery, which the recent rebound is insufficient to dispel. The next numerical benchmark remains the resistance of 51.55 €, tested today, and the support level of 41.14 €, much further below.
