Renault Shares Lag in CAC 40 After a Declining May
The diamond-logo automaker trails the Parisian index this Monday, as May registration figures have been released. The stock is notably down, in an otherwise stable market, and short selling has increased over the month.
Renault Falls Mid-Day After Decrease in May Registrations
Renault shares fall by 1.79% to €29.06 at mid-day, marking the steepest decline in the CAC 40, which nonetheless edges up by 0.13% to 8,194.33 points. The SBF 120 gains 0.11% at the same time. The automaker is paying the price for the registration figures released this Monday by the PFA: the group has dropped by 9.80% in May in the French market, while the overall light vehicle market grew by 1.0% to 154,749 units. Stellantis, for its part, shows a decline of 8.88%. To counter this trend, Renault has unveiled a three-phase roadmap for electric vehicles: a support program for professionals active from today, the opening of pre-orders for social leasing on June 16, and the launch of the scheme on July 16. The stock remains fragile over time, with a decline of nearly 36% over a year.
Short Positions Increase and the Stock Stalls Below Its 50-Day Moving Average
The price has fallen below its 50-day moving average (€29.46), while the 200-day moving average at €32.62 remains about 11% above. The 20-day moving average at €28.80 acts as the first support below the current price, with the RSI at 54 reflecting a balance. The technical support identified at €27.44 is the next low reference point after the session touched this level in mid-May. Concurrently, according to reviewed statements, the cumulative net short positions reach 4.39% of the capital, distributed among four funds, compared to 3.46% a month ago (+0.93 point in thirty days). This gradual increase reflects a strengthening bearish positioning, without turning into massive distrust; a signal to monitor over time rather than in isolation. The projected P/E ratio stands at around 4.2 times the earnings expected for the current fiscal year, according to the consensus of surveyed analysts.
