Renault Shares Drop 2.51% on Shareholder Meeting Day
Renault's stock falls by 2.51% to €29.12 in mid-morning trading as the automaker's shareholder meeting takes place this Thursday, April 30. The movement is part of a downbeat European session, with the CAC 40 down 1.30% at 7,967.46 points. Over the year, the stock has declined by 38.45%.
A Session in the Red on AG Day
The diamond-shaped logo automaker is losing ground this Thursday, following a downward trend in the Paris market. The SBF 120 is down 1.17% in session. Among other European automakers, Stellantis NV is down 7.39% and Ferrari Group by 1.00%. The shareholder meeting is held on April 30, marking the first financial calendar event of 2026 for the group. The sectorial context remains challenging with Brent crude trading around $124.64, its highest since March 2022, amid ongoing tensions in the Strait of Hormuz. Nonetheless, the stock is still supported by a strong commercial dynamic in France. The group has surpassed Stellantis in market share in March, with 60,140 registrations in the French light vehicle market, accounting for a 28.73% monthly market share.
Stock Price Trapped Below Moving Averages
At €29.12, the stock is trading below its 50-day moving average (€30.22) and significantly under its 200-day moving average (€33.21), confirming a medium-term bearish trend. The RSI at 45 remains in a neutral zone, with no signs of exhaustion. The price is approaching the support identified at €27.32, about 6.2% away from the current level. The lower Bollinger band is at €27.97, within the same range. The resistance at €32.52 remains on the horizon in case of a rebound. Regarding the schedule, after today's general meeting, the next significant date for shareholders is set for July 30, 2026, with the publication of the first semester results.
