SPIE stock breaks through its support at €43.10 and falls 2.5%
The multi-technical services specialist is losing ground on Thursday, in an SBF 120 that is nevertheless progressing slightly. The decline is accompanied by an intraday test of the support level at €43.10, briefly broken through before a slight recovery, in a macroeconomic context marked by the Federal Reserve's decision to raise its rates for the first time since 2023.
A marked decline that brings the stock back to its €43.10 support level
SPIE falls 2.7% to €43.30 during the session, ranking among the strongest declines in the SBF 120, while the broader index gains 0.18%. The move is all the more notable as the stock briefly broke through its support at €43.10 by touching a low of €43.06, before rising slightly above it again. This incursion below the support, even if temporary, reflects the fragility of the current configuration: the price is trading below all three moving averages, with a gap of 2.26% below the MA20 at €44.30, 6.50% below the MA50 at €46.31 and 9.40% below the MA200 at €47.79.
Over one month, the decline reaches 9.6%, and over three months, it exceeds 13%. The MACD remains in negative territory, although the histogram has risen slightly above the signal line, which indicates a slight weakening of the selling momentum in the short term. The RSI at 49, close to neutrality, does not provide a clear signal in either direction.
A tight rate environment and elevated short positions weighing on the stock
The day is unfolding in a particularly heavy macroeconomic context: the Fed raised its key rates by 25 basis points to 3.75%-4.00%, the first increase since 2023, citing inflation that is still "too high". For a group like SPIE, historically sensitive to indicators of American industrial activity (negative correlation with the OECD CLI USA), monetary tightening that weighs on activity can constitute a pressure factor on order prospects. Furthermore, according to filed declarations, four funds cumulatively hold 3.78% of capital sold short, nearly stable over thirty days (compared to 3.75% a month ago). This level, above the 3% threshold, indicates that a significant portion of institutional investors remain positioned against the stock.
The recent change remains however very contained (+ 0.03 points in one month), which does not signal an acceleration of the bearish bet. As a reminder, during the release of first-half 2026 results on July 31, 2026, management declared itself fully confident in its ability to achieve its annual targets. The holding of the support at €43.10, tested this morning, remains the immediate technical benchmark to monitor.
