Technip Energies stock rebounds, buoyed by Brent above $96
Technip Energies is among the strongest gainers of the SBF 120 this Monday, in a context of persistent tensions around the Strait of Hormuz that keeps Brent above 96 dollars. The stock is recovering after a difficult quarter, supported by a technical setup that is regaining some momentum above its twenty-day moving average.
A rebound of 2.81% that propels Technip Energies among the best gainers of the SBF 120
Technip Energies gains 2.81% to €30.76 during the session, in an SBF 120 that is also progressing modestly (+0.26%). The group specializing in oil services is directly benefiting from the energy context: Brent is trading around $96.28 per barrel, driven by cross-strikes between the United States and Iran around the Strait of Hormuz since September 5, which have fueled concerns about sustained disruption of oil flows from the Gulf. Over the week, the stock shows a gain of 1.85%, while the quarterly decline remains significant at -12.11%.
This rebound is part of a broader movement started in early September: the jump of nearly 7% recorded on September 1 had already allowed the stock to return to contact with its fifty-day moving average, before a few sessions of consolidation. Performance over one year remains negative at -20.93%, which illustrates the underlying pressure on the stock for more than a year.
The 20-day MA breached upward, but the 50-day MA at €31.87 remains a close obstacle
The price of €30.76 is now above the 20-day MA, which stands at €30.19, with a gap of +1.89%. This breakthrough is giving some short-term momentum, especially as the support at €29.22 offers a relatively close floor in case of a reversal. The 50-day MA, on the other hand, stands at €31.87, about 3.5% above the current price: it represents the next zone to overcome to consolidate the rebound.
The RSI at 44 remains in neutral territory, without signals of exhaustion or overbought conditions, which leaves room for upside without guaranteeing its continuation. On the calendar front, Technip Energies will participate in the Kepler Cheuvreux Autumn Conference on September 8, and then in the Jefferies Industrials Conference on September 9. These two events, scheduled for Tuesday, could provide additional insights into the group's strategy in a particularly turbulent energy environment.
