SPIE share slips further and approaches its 43.30 € support level
Pressure is intensifying on the multi-technical services specialist's stock, which extends its decline in a European market globally oriented downward. The favorable opinion published the previous day by Deutsche Bank was insufficient to halt the selling momentum, and the technical configuration remains under tension at medium-term levels.
A decline that reflects technical deterioration over several weeks
SPIE fell 2.01% to 43.78 € during the session, in an SBF 120 that declined 0.47%. The stock thus moves away from the near 2% rebound recorded the previous day, and finds itself once again below its three key moving averages. The 20-day MA at 45.88 €, the 50-day MA at 47.74 € and the 200-day MA at 47.85 € all overhang the current price, with a gap exceeding 8% for the two medium-term references.
The RSI at 40 reflects moderate downward pressure, without reaching the clear oversold zone, while the MACD remains in negative territory with a histogram still weighing slightly to the downside. The 43.30 € support now constitutes the immediate threshold to monitor, less than one euro away from the current price. Over one month, the stock has lost nearly 5.9%, and its three-month decline amounts to 11.23%.
Deutsche Bank maintains its buy rating, short positions increase
The previous day, Deutsche Bank published a buy rating on SPIE, accompanying this opinion with a price target of 57.00 €. This level represents an upside potential of nearly 30% compared to the current price, but the market did not extend the positive reaction initiated on Tuesday. Furthermore, according to reported declarations, four funds cumulate 3.77% of the capital sold short, up 0.40 points over thirty days.
This level, above the 3% threshold, indicates non-negligible short pressure on the security, even though the acceleration remains gradual rather than abrupt. The session is taking place in a tense geopolitical context: Iran launched a military retaliation on Wednesday against American installations in the Middle East, which places additional uncertainty on all European markets, with the VIX surging more than 10% during the session. For SPIE, the 43.30 € support will remain the immediate technical reference point in the coming hours.
