STMicroelectronics stock hits 30-session low at €39.09
The semiconductor manufacturer extends its decline in a weak Paris market. The stock is now among the lowest performers in the CAC 40, following a very turbulent October.
The 30-session floor gives way and the stock remains below all its moving averages
The STMicroelectronics stock retreats 2.18% to €39.09 in trading and ranks among the lowest performers in the CAC 40, while the Paris index loses 0.82%. The stock has broken through its 30-day low at €39.96, a level that is now becoming a resistance point. It is trading 12.1% below its 50-day moving average and 9.8% below its 200-day moving average, illustrating the extent of the recent decline: a 16.1% drop over one month and nearly 33% over three months.
The RSI at 32 is approaching the oversold zone. The sector is not performing any better: ASML is down 1.08% and ASM International down 2.2%, two stocks that are respectively posting 7.4% and 18.5% losses over one month.
A VIX up 17% and U.S. semiconductor stocks in sharp decline the previous day
The session takes place in a climate of tension: the VIX surges 17.4% to 19.58, while the yield on the 10-year OAT reaches 5.13%, its highest level since 2004 according to the Banque de France survey dated October 22. American semiconductors closed Thursday with sharp losses, with Micron at -6.3%, AMD at -8.1%, Lam Research at -11.8% and Nvidia at -4.4%. The group also repurchased €186 million of shares over twelve months, representing 0.5% of its market capitalization. Its next financial appointment is the publication of third-quarter results, scheduled for October 29.
