Société Générale Shares Drop Over 2% and Fall Below Moving Averages

The stock falls below the MM20 and approaches the MM50 as volatility rises

Société Générale shares dropped 2.25% to €68.78, among the steepest declines in the CAC 40, while the Paris index fell 0.18% to 8,188.65 points. The session largely erased the previous day's gains, after which the stock had challenged its resistance at €71.90.

The decline occurs in a context of heightened market tension: the VIX jumped 15.7% to 21.89, following new US strikes on Iranian targets which pushed Brent above $92. The banking sector also absorbs the setback of the DAX, which closed down 2%.

In terms of benchmarks, the price has fallen below the MM20 (€69.45, gap -0.96%) and is near the MM50 (€69.11, gap -0.48%). The MM200 remains at €64.26, maintaining a comfortable gap of over 7%, and the RSI at 54 remains neutral.

The support at €65.72 is the next low benchmark being monitored.

Citi raises its target to €90, the stock maintains an annual gain of over 43%

In analyst activity, Citi raised its price target from €84 to €90 yesterday, while maintaining a buy recommendation. Based on the current price, the new target indicates a potential upside of about 30%.
Analyst opinions generally remain constructive on the stock, which is trading at about 8.9 times the earnings of the current fiscal year according to the consensus of surveyed analysts.
Despite today's decline, the bank maintains an annual performance of 43.4% and a gain of 7.2% over three months. In corporate news, the bank announced on Monday a notice of early repayment of a convertible bond scheduled for July 6, 2026, extending a series of liability management operations announced recently.