Société Générale's Stock Climbs Nearly 3% Targeting €76.60

A 2.72% Increase Extending a Weekly Rebound of Over 7%

Société Générale's stock advanced 2.72% to €75.40 in mid-morning trading, following a 1.13% rise in the CAC 40. The stock extends the movement initiated on Friday when it broke through its resistance at €71.90 on substantial volume. The bank now shows a 7.31% gain for the week and nearly 56% for the year, a notable performance over twelve months. The session's context remains supportive: the announcement of a framework agreement between Washington and Tehran on a ceasefire and the gradual reopening of the Strait of Hormuz has led to a roughly 7% drop in Brent, easing inflation expectations and benefiting European cyclical stocks. The VIX simultaneously retreats by 5.5% to 16.7, reflecting a clear resurgence in risk appetite.

Above All Its Moving Averages, the Stock Challenges the €76.60 Resistance

The technical setup remains favorable: at €75.40, the price is above the MM20 (€69.99), MM50 (€69.62), and MM200 (€64.53), with a gap of nearly 17% from the latter, indicating a solidly bullish underlying trend. The RSI at 62 remains in positive territory without reaching the overbought zone, allowing some room before potential exhaustion. The stock is now confronting the identified resistance at €76.60, the last graphical threshold before a new annual high. Regarding valuation, the stock is trading at approximately 9.8 times the expected earnings for the current fiscal year and 8.5 times those of the next fiscal year according to the consensus of surveyed analysts, multiples that remain modest given the stock's trajectory. The next concrete milestone for shareholders will be whether or not it closes above the €76.60 threshold.