Saint-Gobain shares break through their €74.44 resistance and extend their rebound
The building materials manufacturer is rising in a well-oriented CAC 40, after a clearly positive week. It has just moved back above a threshold that had acted as a ceiling for a month.
A €74.44 threshold broken, now acting as intraday support
Saint-Gobain shares gain 1.65% to €75.32 in mid-afternoon trading, while the CAC 40 rises 1%. The stock broke upward through its 30-session high, at €74.44, and holds above it: this level now serves as support.
The gain brings the weekly performance to nearly 11%. The price is 9.7% above its MM20 and 8.4% above its MM50, but remains 1.2% below its MM200, at €76.25. The RSI, at 73, is in an overbought configuration.
The quarter remains negative despite the recent rebound
Despite this recovery, the stock is still down nearly 12% over three months, compared with a 16.3% gain over the last month.
On November 2, the group completed the sale of Dahl in Scandinavia to Kesko, valued at €1.5 billion in enterprise value. On October 27, it also published sales up 2.5% in the third quarter, driven by prices.
On the economic front, the construction climate indicator stands at -20.9 in France and -7.1 in the European Union. The next resistance lies at €85.54, while the MM200 at €76.25 is the first moving average level to be reclaimed.
