Schneider Electric shares dip to €227.85 intraday before rebounding
The shares of the Rueil-Malmaison equipment maker recover in mid-afternoon, as the CAC 40 trades higher. The stock briefly dipped below a closely watched technical level before moving back above it. The decline accumulated over several months nonetheless remains very pronounced.
A €227.85 support breached then recovered intraday
Schneider Electric shares gain 2.16% to €233.60, while the CAC 40 rises 1%. Intraday, the stock touched a low of €227.50, below its support at €227.85, before recovering to €233.10.
The rebound does not change the overall picture: the price remains 3.96% below its 20-day moving average (MM20) and 13.11% below its 200-day moving average (MM200). This rebound offsets only a small part of the 10.53% decline over one month and the 23.08% decline over three months.
The RSI at 38 remains in a neutral zone. In the CAC 40 ranking, the stock is among the biggest gainers of the session.
A PTC acquisition financing completed after weeks of decline
The recent decline was accompanied by the financing of the acquisition of PTC. Schneider Electric announced on October 20 a capital increase of approximately €6 billion, then added on October 29 €6 billion of bonds, with maturities between 2028 and 2046.
The group had also raised on October 16 its annual adjusted EBITA organic growth target, after third-quarter revenue of €11,460 million, up 16.9% organically. The stock is down 1.64% over seven days, and the technical resistance level is at €303.
