Sodexo Shares Climb 2% and Break Through Key Resistance at €50
The collective catering group's stock continues its ascent in early afternoon trading, in a Parisian market distinctly on the rise. The movement extends a marked monthly rally and is accompanied by a new technical breakthrough monitored by traders.
A Resistance Breakthrough Extending a 14% Monthly Rebound
Sodexo shares gain 2.14% to €49.68 in session, within an SBF 120 that is up 1.81%. The stock broke through its €49.76 resistance in the morning, reaching an intraday high of €49.78, before slightly falling below. This push is part of a solid underlying dynamic, with a gain of 14.15% over one month and 13.58% over three months, offsetting a 12.38% decline over the past year. The price is above its three moving averages, with a gap of 4.61% on the MM20 (€47.49), 10.67% on the MM50 (€44.89), and 6.47% on the MM200 (€46.66), a configuration that confirms the trend recovery that began in late April. The RSI at 60 remains away from overheating zones, leaving room before an overbought signal. The breakthrough follows a resistance break already observed on June 5, which initiated the latest leg of the rise.
Significant Short Positions Persist Despite Gradual Decline
In the background, the bearish bet on the stock remains significant: eight funds cumulatively hold 6.01% of the capital sold short, according to statements reviewed on June 1. However, this level has decreased by 0.50 points over thirty days, from 6.51% a month earlier, indicating that some traders are gradually lightening or covering their positions as the stock rises. A total above 6% reflects the persistence of a structured selling trend, though not necessarily a massive signal of distrust: this point warrants regular monitoring rather than isolated interpretation. Furthermore, the session benefits from a supportive market environment, with the CAC 40 up 1.86% and the VIX retreating more than 15% to 18.85, following Washington's cancellation of planned strikes on Iran, which led to a drop in Brent below $90. Beyond the breached threshold at €49.76, the next reference zone is around €50, a psychological level not approached since the winter.
