Saint-Gobain stock advances despite oversold RSI and -16% over one month
The construction materials specialist's share rebounds during the session, while the CAC 40 also advances. However, the configuration remains highly deteriorated over longer horizons, with a price that briefly broke through its support during the day before recovering.
A rebound of 1.35% masking a turbulent session around the 69.58 € support
Saint-Gobain gains 1.35% to 70.60 € as trading approaches close, following a session marked by a dip below the 69.58 € support, down to an intraday low of 69.54 €, before recovering above this threshold. This fleeting breach, followed by a recovery, perfectly captures the tension characterizing the stock for several weeks. Over one month, the decline reaches 15.89%, and over one year, losses exceed 24%, placing the stock well behind a CAC 40 that gains 0.65% during the session.
Today's rebound occurs in an overall favorable Paris market, with the Dow Jones up 0.45% and the S&P 500 at +0.93% during the session. The stock's monthly volatility remains elevated at 8.75, reflecting an equity that has yet to find stable footing.
Goldman Sachs lowers target to 85 €; RSI in extreme oversold at 26 signals selling exhaustion
Goldman Sachs revised its price target on Saint-Gobain today from 86 € to 85 €, while maintaining its "market perform" rating. At 70.60 €, the price shows a gap of more than 20% compared to this target, giving an indication of the scale of accumulated losses. On the indicators side, the RSI at 26 is in marked oversold territory, a level the stock had already reached during the September 14 session, without this being sufficient to trigger a lasting rebound.
The price simultaneously trades 7.30% below the MA20 at 76.16 €, 9.22% below the MA50 at 77.77 € and 11.16% below the MA200 at 79.47 €: the three moving averages form a tight mobile ceiling, reflecting the extent of the underlying downtrend. In this context, the construction climate weighs in the background, with France's construction sentiment at -18.2 points in August and building permits declining 8% year-over-year. The next resistance zone to watch remains the MA20 at 76.16 €, still far from the current price.
