SPIE share rebounds nearly 2%, bucking the SBF 120 trend
The multi-technical services specialist's share is resisting the general trend on Tuesday, advancing significantly in an SBF 120 that is losing ground. This rebound comes as Deutsche Bank publishes a favorable opinion today with an ambitious target, while the technical configuration of the share remains under pressure for several weeks.
Deutsche Bank initiates a buy opinion with a 57 € target on Spie
Deutsche Bank published on Tuesday a favorable analyst opinion on Spie, positioning the share at buy with a price target of 57 €. This level represents an upside potential of approximately 28% compared to the current price of 44.40 €. The publication of this opinion coincides with a 1.98% rebound during the session, the share standing out favorably against an SBF 120 index declining 0.44%.
With a rank of 7 out of 120 index members, Spie is among the strongest gainers of the SBF 120 at mid-session, in a session where the CAC 40 is also down 0.44%. The VIX, which measures implied volatility in US markets, is rising nearly 10% to 15.85 during the session, signaling a general increase in caution which makes the share's performance all the more notable.
A technical rebound in a context of moving averages still unfavorable
Despite the positive move of the day, Spie's technical configuration remains constrained. The share is trading at 44.40 €, below its 20-day MA at 45.99 € (gap of 3.46%) and its 50-day MA at 47.85 € (gap of 7.21%), two benchmarks acting as near resistance levels. The RSI at 29 reflects a marked oversold zone: the share had already broken through its three moving averages at the end of August in a difficult session for the SBF 120, intensifying selling pressure that has been in place for several weeks. Over one month, Spie is down 4.56%, and 9.2% over three months.
Moreover, according to declarations consulted, four funds cumulate 3.77% of the capital sold short, up 0.40 percentage points over thirty days. This level, above 3%, reflects a non-negligible bearish positioning on the part of institutional investors; the recent acceleration deserves to be monitored, even if it does not allow for prediction of future movements. The support at 43.30 € remains the nearest lower reference in case of further decline, while resistance at 48.80 € marks the next level to recapture.
