Teleperformance Shares Drop 2.5%, Approaching a Key Support at €53
Teleperformance shares decline in mid-morning trading, against the backdrop of a generally rising SBF 120 index. The stock is experiencing renewed selling pressure that has been present for several weeks, as short positions in the capital continue to increase.
A Decline That Brings the Price Below Its Three Moving Averages
Teleperformance shares lose 2.21% to €53.65, positioning at the bottom of the SBF 120 while the broader index gains 0.18%. The session erases part of the weekly gain, which remains positive at nearly 3%, but leaves the annual loss close to 38%. The stock now trades below its three moving averages, with a gap of 7.69% below the MM20 (€58.12) and 8.56% below the MM200 (€58.67), indicating a technically deteriorated configuration across all horizons. The RSI at 36 is approaching the oversold zone without tipping into it, while the support at €53.06 is in direct contact with the current price. A break below this threshold would open additional downside space, with no intermediate resistance appearing before €58. The decline is part of a contrasting market environment, marked by Brent crude soaring beyond $90 a barrel amid escalating tensions between the United States and Iran. This inflationary context continues to weigh on business services stocks, more sensitive to sectoral shifts and rising long-term rates.
Short Positions Reach 13.26% of Capital, a Rarely Observed Accumulation
The bearish pressure is evident not only in the price movements. According to reviewed declarations, twelve funds now cumulatively hold 13.26% of the capital sold short, up from 11.31% a month ago, an increase of nearly 2 points in thirty days. Such a level, significantly higher than the average for SBF 120 stocks, reflects a structural bearish bet by several institutional investors on the contact center group model, although the specific motivations remain unclear. The continuous rise in accumulation over thirty days deserves attention, but should not be seen as an isolated signal: these positions could equally represent exposure hedging as well as directional conviction. From a valuation standpoint, the consensus among surveyed analysts places the stock at around 4 times the expected earnings for the current fiscal year, with an estimated earnings per share growth of 4.6% next year. The previous session had already seen the stock lose 4.5%, as illustrated by the drop on July 16. The next technical support point is at €53.06, a zone already tested during the session.
