SES Shares Drop Nearly 2% and Fall Behind the SBF 120 Pack
The Luxembourg-based satellite operator takes a breather after several sessions of marked rebound. The stock falls behind the SBF 120 pack even as the broader Paris index moves decidedly into the green. This movement brings the value back to the contact of a closely watched technical moving average.
The Stock Falls Behind the SBF 120 Despite a Favorable Parisian Context
SES shares lose 1.78% to €7.7350 in late afternoon trading, while the SBF 120 advances by 0.67% and the CAC 40 by 0.65%. The stock retreats against the trend of a well-oriented Parisian market, driven by the rebound in semiconductors and biotech. This profit-taking comes after a pronounced upward sequence, with the stock having gained more than 18% over three months and nearly 27% over a year. The rebound that began at the end of June was fueled by the signing of a five-year framework contract in early July between the group's defense subsidiary and the US Space Force for the provision of Ku-band satellite services.
The Pullback Brings the Price to the Contact of the MM50, MM20 Serves as Initial Support
Today's movement repositions the stock just below its 50-day moving average, located at €7.93, representing a gap of 2.46%. The MM20 at €7.52 remains crossed upwards (+2.86%), providing initial technical support in the area. The RSI at 54 indicates a neutral configuration after the rebound of the last sessions, consistent with a simple breather after gaining more than 30% since the lows at the end of June. On a longer horizon, the MM200 at €6.60 remains well below the current price (+17.20%), indicating that the medium-term trend remains upward despite the June correction. The zone between €7.52 and €7.93 now concentrates the technical benchmarks to follow for the continuation of the sequence.
