SES Shares Hit a 4-Year High and Break Key Resistance
The Luxembourg-based satellite operator continues its rapid ascent in mid-session, while the Paris market significantly declines. The stock marks a new multi-year high and breaks a closely watched technical resistance. The bullish momentum that has driven the stock for several weeks shows no signs of weakening.
A New Peak at €9.10 Extends a Rally of Nearly 17% Over the Week
SES shares are up 1.18% at €9.00 midday, after reaching €9.10 during the session. This level is a four-year high, surpassing the previous record of 2022 (€9.02). The stock is among the top gainers in the SBF 120, while the index is down 0.95% and the CAC 40 1.03%, in a climate weighed down by the French composite PMI dropping to 43.5 in May, its lowest since November 2020.
The weekly performance has reached 16.88%, driven by a series of successive records. The stock had already marked a peak at €8.65 on May 21, paused on May 22, and then resumed its ascent. Over three months, the increase exceeds 38%, and over one year, the gain is more than 78%. The rally was particularly built around the publication of the first quarter results on May 12, which served as a turning point for the stock.
Breakthrough of the €8.95 Resistance and RSI at 75 in Overbought Territory
The intraday crossing of the €8.95 resistance is the technical highlight of the day, with the stock maintaining above this threshold after its passage. This level had previously contained the progression. The price is now significantly above its moving averages: the MM20 (€7.70) is about 17% below the price, the MM50 (€6.86) more than 31%, which measures the extent of the recent acceleration.
The RSI at 75 indicates a marked overbought condition, consistent with the steepness of the movement in recent weeks. The MACD remains positively oriented (line at 0.53, signal at 0.40), confirming the bullish momentum in place.
