SES Drops 2.5% After a 90% Rally Over the Year
Following a spectacular rally that took the Luxembourg-based satellite operator to a multi-year high, the stock is distancing itself from its recent highs. Today's session marks a clear break from the momentum of the past few weeks, in an otherwise positive Parisian market.
Significant Profit-Taking as the Index Rises by 0.8%
SES shares fell by 2.48% to €9.64 at midday, going against the trend of the SBF 120, which is up 0.80%, and the CAC 40, which has risen by 0.81%. The stock is among the biggest losers in the SBF 120.
The movement today does not call into question the underlying dynamics: the stock still holds a gain of 9.17% for the week and more than 52% over three months. Over a year, the increase reaches nearly 90%. The stock remains well above its three reference moving averages, with a gap of more than 19% over the MM20 at €8.10.
RSI at 83 Indicates Overbought Condition After Spring Surge
Today's consolidation occurs in a tense technical context. The RSI has reached 83, a level historically associated with a risk of short-term reversal, after several weeks of almost uninterrupted gains. The stock is still trading below its historical resistance at €9.89; the stock has attempted to break through this level in recent sessions, making it a key resistance.
The one-month volatility stands at 12.45%, reflecting the magnitude of recent movements (alternation of strong rise sessions and profit-taking like that observed on May 15, where the stock had dropped 5.19%). The next key technical support is at €6.36, which is significantly below the current price. In the short term, the stock's performance will depend on its ability to stabilize above the €9.89 zone.
