STMicroelectronics stock, up nearly 2%, targets its 20-day moving average at 44.32 €
STMicroelectronics is holding up against a heavy macro environment on Friday, as the ECB just raised its rates for the second time this year and major U.S. exchanges closed in the red the previous day. The semiconductor manufacturer is moving back toward contact with its twenty-day moving average, in a CAC 40 that remains globally favorable this morning.
STMicro among the best gainers in the CAC 40, approaching a key technical threshold
STMicroelectronics gains 1.89% to 44.47 € during the session, ranking among the strongest gainers in the CAC 40, in a Paris index that advances 0.61%. This rebound brings the stock into contact with its 20-day moving average at 44.32 €, with a gap of only +0.33%: after several sessions below this average, the question of maintaining above it becomes central for short-term momentum. The RSI at 42 remains in neutral territory, with no signal of exhaustion or overbought conditions, which leaves room for the rebound.
The 50-day moving average at 49.48 € still caps the stock more than 10% above the current price, while the support at 42.22 € provides a floor in case of reversal. The MACD is slightly positive on its histogram (0.21), a sign that the selling pressure of recent weeks is beginning to ease.
A rebound going against the grain of American semiconductors, in a macro environment under tension
The advance of STMicroelectronics contrasts with the direction of its American peers at Thursday, September 10th close: Micron Technology lost 4.90%, Lam Research 5.65%, Advanced Micro Devices 3.36% and Nvidia 2.37%. In Europe, Asml Holding gained 0.62% during the session while Asm International fell 0.05%, confirming that ST's move remains unique this morning. The macro environment is nonetheless weighing: the ECB raised its key rate to 2.50% yesterday, and the U.S. August PPI came in at +5.4% year-over-year, reviving expectations of monetary tightening across the Atlantic.
For a semiconductor manufacturer whose sales are denominated in dollars and whose investment cycles are long, this environment of high rates and a strong dollar remains a variable to monitor. On the quarterly decline front, the three-month performance remains heavy at -27.5%, and according to the consensus of surveyed analysts, the stock is trading at approximately 20 times expected earnings for next year, a valuation that already incorporates a cycle recovery. The next significant resistance stands at 49.06 €, representing a gap of nearly 10% from the current price.
