SES share breaks through its €4.28 support level and loses 42% over the quarter

A support level breached downward in a market under budgetary tension

The SES share declines 3.79% during the session to €4.16, breaking through the support threshold at €4.28 identified as a key level. The breach is confirmed, with the price remaining significantly below at mid-session. This decline occurs as the CAC 40 retreats 1.27% and the SBF 120 falls 1.30% during the session, in a context dominated by tensions on French debt: The yield on the 10-year OAT reached 4.86%, its highest level since 2008, while the spread with the German Bund reaches 1.17 points, a peak since 2012.

The difficult adoption of the 2027 budget, examined today in the Council of Ministers, adds a layer of uncertainty weighing on the entire Paris stock exchange. The RSI at 31 reflects a configuration close to oversold, though this does not necessarily signal an imminent turnaround.

A severely deteriorated underlying trend despite recent announcements

Over the week, the share is already down nearly 12%, bringing the three-month loss to 41.97%. Two recent developments have failed to halt the decline: the extension of the partnership with Sky for satellite broadcasting in the United Kingdom and Ireland, announced Wednesday, and the buyback offer for its 2027 bond worth 500 million euros, launched on September 28 to smooth the group's debt profile. The price remains below the 20-day moving average at €4.67 (a gap of nearly 11%) and even further below the 50-day moving average at €5.23, which represents a gap of over 20%. In this context, analysts' views on the stock remain worth monitoring, especially as the next identified resistance level stands only at €5.21, representing a theoretical rebound of over 25% from current levels.