Technip Energies Shares Gain 2.5% and Retest Their MM20
The French oil services company advances at mid-session in a well-oriented Parisian market. The stock continues its recovery started late last week and is testing a key moving average after several weeks of consolidation.
The Stock Recontacts its MM20 After a Week of Rebound
Technip Energies shares are up 2.25% at €35.44 during the session, while the SBF 120 index is up 0.45%. This movement places the stock among the highest gains in the index. Over the week, the stock has gained 8.51%, which mitigates the decline of 7.85% accumulated over three months without erasing it.
The price returns to contact its MM20 at €35.32, a threshold already tested in mid-June. The MM50 remains higher, at €37.12, which is 4.53% above the current price: this gap represents the resistance to be overcome to validate a medium-term turnaround. The RSI at 44 indicates a dynamic that has returned to neutral after the weakness in spring.
A Rebound Supported by Recent Contracts and a Rich Commercial Pipeline
Today's progression extends the rebound from July 3, when the stock had gained 5.5%. Fundamentally, the group continues to fill its order book. In early June, it secured an EPCIC contract worth over one billion euros for the Coral Norte floating LNG terminal in Mozambique, alongside JGC and Samsung Heavy Industries.
At the end of June, it also launched with Alterra and Neste the Néréa initiative dedicated to the chemical recycling of plastics, and partnered with Airbus, Safran, and Tereos on a sustainable aviation fuel project in Dunkirk. The analysts' consensus remains generally favorable to the stock. In the short term, the sustainable crossing of the MM20 at €35.32, then the MM50 at €37.12, constitutes the next technical milestone observable to extend the rebound.
