TotalEnergies Breaks Resistance and Shows Overbought RSI by Late Afternoon
TotalEnergies' stock advanced by 1.77% to €61.06 this Thursday, January 29, continuing its bullish momentum after a 5.73% performance over seven days. This progress occurs in a technically tense context, marked by the crossing of a key threshold and signs of buyer movement exhaustion.
The stock has surpassed its major resistance set at €60.51, signaling a short-term bullish breakout. This crossing is part of a constructive dynamic, with consolidated performances over the last three months (14.17%) and the past year (9.53%). However, Kepler Cheuvreux has lowered its price target from €52.00 to €51.50, adopting a 'reduce' rating on January 27. This recommendation implies a downside potential of 15.6% from the current price, reflecting increased caution in light of the recent rise in the stock.
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The 14-day RSI has reached 84, clearly entering the overbought zone beyond the threshold of 70. This saturation suggests an imminent exhaustion of bullish momentum and a possible technical correction in the upcoming sessions. The major support is located at €53.38, providing a safety cushion of €7.68 in case of a decline.
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Context
Period
Period: 1T2026
Key reported figures
Revenue: 5394M$
EBITDA: 12552M$
Net income: 5810M$
Free cash flow: 8600M$
Guidance from the release
Portée par une croissance organique de sa production de 4 % sur un an.
TotalEnergies affiche des résultats en forte hausse au premier trimestre 2026.
Risks mentioned
Conflit au Moyen-Orient affectant la production.
Augmentation du besoin en fonds de roulement de 5,1 G$.
Opportunities identified
Croissance organique de production de 4 %.
Finalisation de la fusion de ses actifs au Royaume-Uni.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
