Spie's share price drops 1.6% and approaches its 200-day moving average
The share price of the multi-technical services specialist declines at midday in a downward-trending Parisian market. This movement erases part of the rebound that began at the end of May and brings the stock back to its medium-term benchmarks.
A decline that brings the share price below its 20-day moving average
Spie's share price drops 1.61% to €47.56 during the session, down from a previous close of €48.34. The stock is moving in a CAC 40 that is down 0.60% and an SBF 120 that is down 0.56%. This day's movement follows a mixed May, with the stock showing -6.38% over thirty days and -2.74% over the week. On a yearly basis, the performance remains positive (+6.49%). The European index context is uniformly bearish, with the DAX down 0.76% and the FTSE 100 down 0.24%, while Brent crude rebounds more than 2% following new tensions in the Middle East.
The price moves below the 20-day MA and approaches the 50-day and 200-day MAs
At €47.56, the stock has moved below its 20-day moving average (€48.55), with a gap of -2.04%. However, it remains close to its 50-day MA (€47.62) and its 200-day MA (€47.33), two benchmarks now almost coinciding with the price. The RSI at 50 indicates a balance between buyers and sellers, without a clear directional signal. The identified support is at €46.56, about 2% below the current levels, with resistance at €51.75. The session on May 22 saw the stock move above its moving averages targeting €51.75. Today's decline partially closes this movement and brings the value close to its 200-day MA (€47.33), still above the support at €46.56.
