Sanofi Shares Lead the CAC 40, Surpassing €78
The pharmaceutical company marks the highest increase of the Parisian flagship index while the market trends negatively. The stock is advancing as some defensive stocks rise and tech stocks fall.
Sanofi Leads the Index Against a Tech-Driven Downturn in the CAC 40
Sanofi shares gained 2.58% to €78.41, leading the CAC 40, which fell by 0.18%. The stock stands out in an index pulled down by technology, with STMicroelectronics dropping nearly 5% and Schneider Electric over 4%.
The global context is marked by a retreat in the Nasdaq (-1.58%) and a relaxing VIX at 15.40. Among the day's gainers are Carrefour (+2.35%) and Pernod Ricard (+2%).
Sanofi thus recovers some of the ground lost over the year, with the stock still showing a 10% decline over the period. Today's rise brings the weekly gain to 2.69%.
The Stock Moves Above its 50-Day Moving Average, Targeting the Long-Term Average at €81.35
The rebound has pushed the price above the 50-day moving average (€78.01), with a margin of +0.51%. Remaining above the 20-day moving average (€75.03) for several sessions, the stock is still below the 200-day moving average at €81.35, which represents a gap of -3.61% and is the next friction zone.
The RSI at 52 indicates a buyer-seller balance, without excess, which leaves room before the resistance identified at €81.76. Kepler Cheuvreux reaffirmed on June 3rd its 'hold' rating with a target of €85, representing a potential of about 8% from the current price.
Based on the consensus of analysts surveyed, the stock is priced at approximately 9.2 times the expected earnings for the current fiscal year. The next technical test remains the crossing of the 200-day moving average, a barrier that has capped the value for several months.
