Teleperformance stock breaks through its support at 68.24 €, bottom performer of the SBF 120
Teleperformance occupies the last place of the SBF 120 in mid-morning, with a decline of nearly 5% that brings it to the level of its 50-day moving average. This pullback contrasts with the breakthrough of the 72 € resistance achieved a week earlier, and occurs on the same day that Citi updates its price target.
Bottom performer of the SBF 120: the stock falls back below its 68.24 € support before recovering
Teleperformance is declining 4.9% to 67.94 € during the session, representing the steepest decline of the SBF 120 among the index's 120 members. The stock broke through its support at 68.24 € during the morning, touching a low of 68.06 €, before returning slightly above this threshold (latest price: 68.3 €). This downside breakthrough is notable as this support had previously held during recent episodes of selling pressure. The decline brings the stock almost exactly to the level of its 50-day moving average at 67.95 €, with a difference of only 0.01%.
Conversely, it has fallen back below its 20-day moving average at 70.45 €, with a difference of -3.56%. The RSI at 57 remains in neutral territory, which does not signal any particular selling exhaustion at this stage. Over one week, the decline reaches 3.08%, erasing part of the ground gained since the breakthrough of the 72 € resistance on September 23.
Two analyst opinions updated this morning, short-sellers in decline over one month
Citi raises its price target today from 50 € to 72 €, while maintaining a neutral view on the stock. On September 28, BofA Securities raised its target from 68 € to 72 €, maintaining its "hold" opinion. These two adjustments converge towards the same level of 72 €, representing a premium of approximately 6% relative to the current price. The analyst consensus reflects a contained valuation: according to the consensus of analysts surveyed, the stock trades at approximately 5.0 times the expected earnings for the current fiscal year.
Furthermore, net short positions declared by seven funds stand at 6.28% of capital, a high level, but in sharp decline of 1.41 percentage points over one month (compared to 7.69% thirty days ago). This reduction suggests that some funds positioned for a decline have reduced their exposure, although this covering movement is not yet massive. The 73.70 € resistance constitutes the next chart level to monitor should the stock recover above 72 €.
