Renault Shares: Nearly 5% Increase, Leading the CAC 40 Thanks to Brent
The diamond-shaped logo manufacturer marks the strongest rebound of the Paris index in mid-morning, in a well-oriented market. The stock moves back above its short-term moving averages and benefits from a marked relaxation of the Brent barrel, sensitive for the entire automotive sector.
Renault Leads the CAC 40, Brent Downturn Eases Pressure on Automotive
Renault shares gain 4.4% to €29.92, leading the CAC 40 which is up by 0.5%. The stock marks the highest rise of the Paris index, ahead of Stellantis (+3.95%) and the luxury sector. The movement is part of a session marked by a pronounced relaxation of Brent, which drops 5.08% to $94.52/barrel and loses 14.6% over eight sessions. The automotive sector, sensitive to the cost of fuel for its customers, benefits directly. Today's rebound mitigates the decline of 7.74% seen over three months, without erasing the loss of 37.77% recorded over a year. The rise follows a phase of tension on the supports observed last week, when the price had broken through the zone of €27.55.
Crossing Short-Term Moving Averages Brings the Stock Towards the €32.52 Resistance
The rebound places the price above the MM20 (€28.84, gap +3.74%) and the MM50 (€29.38, +1.84%), two thresholds that the stock had lost mid-May. The MM200 at €32.66 remains out of reach, with the course evolving 8.39% below. The RSI at 48 remains neutral, which leaves room before an overbought zone. The identified resistance at €32.52 coincides with the MM200, making it the next technical marker in case of continuation of the movement. On the fund side, the cumulative net short positions reach 4.35% of the capital according to the declarations consulted, distributed among four funds, up by 0.46 point over thirty days. This measured progression reflects a persistent caution of some institutional participants, without indicating a marked increase in bearish bets. According to the consensus of analysts surveyed, the stock is trading at about 4.3 times the earnings expected for the current fiscal year.