SPIE Shares Fall 3.5% and Test Its 20-Day Moving Average
Shares of the multi-technical services specialist in energy and communications significantly dropped during the session, amidst a weakened CAC 40 due to new military escalations in the Middle East. This movement erases part of the recent rebound and brings the stock back to a closely watched technical level.
A Significant Decline Bringing the Price to the 20-Day Moving Average
SPIE shares fell by 3.54% to €49.34, down from €51.15 the previous day. The stock is testing its 20-day moving average (€49.14), which it had surpassed in early July with a 5.5% jump on July 3. The gap with the MM50 (€48.68) remains positive at 1.36%, and the price maintains a cushion of 4.05% over the MM200 (€47.42). The RSI at 60 exits the high zone, indicating the buyer movement's fatigue over the last few sessions.
The decline is part of a CAC 40 down by 1.88% and an SBF 120 that drops 1.83%, weighed down by new escalations between Washington and Tehran following American strikes against Iran and a claimed Iranian retaliation in Kuwait and Bahrain. The session is marked by a generalized risk aversion: the VIX jumps by 11.84% to 18.04, the Dow Jones loses 1.17% and the DAX 1.69%. Over a week, SPIE now shows a decrease of -2.1%, but the performance remains positive at 10.88% over three months.
A Correction That Does Not Undermine the Medium-Term Trend
Despite today's drop, the underlying configuration remains favorable for the stock. The nearly 11% gain over the quarter is particularly supported by the acquisition of Swiss company Nimeg AG, announced on July 2, which strengthens the group's exposure to life sciences. This operation fueled the 5.5% surge in the stock on July 3, pushing it towards its recent highs.
The €49.14 area (MM20) becomes the first benchmark to watch; below that, the MM50 at €48.68 and then the support at €46.56 outline the technical milestones of the stock. The one-month volatility, at 7.30%, remains moderate in light of today's index downturn. The stock's rank in the SBF 120 (102nd out of 120) reflects a high-average decline in the index, far from the day's steepest drops concentrated on Vivendi, Air France-KLM, and Société Générale.
