TotalEnergies leads the CAC 40 as Brent exceeds 96 dollars
In a CAC 40 nearly balanced on Monday, TotalEnergies ranks among the rare values of the index in positive territory, driven by the surge in Brent around 96 dollars per barrel. The stock is consolidating above its three moving averages, in a tense geopolitical context around the Strait of Hormuz which maintains a risk premium on energy.
TotalEnergies on the podium of the CAC 40 as Brent exceeds 96 dollars
The TotalEnergies share is trading at €77.22 during the session, representing a gain of 1.47% compared to the close on Friday, September 4. This movement places the stock in third place in the CAC 40, among the index's strongest gains, in a session that is otherwise very mixed. Its counterpart Shell is advancing by an almost identical amount (+1.46%) over the same period, a sign of coherent sector momentum.
Brent is playing a direct role in this dynamic: it is trading around $96.28 per barrel on Monday, after a gain of nearly 8.6% accumulated since the end of August. The cause is the cross-strikes between the United States and Iran around the Strait of Hormuz, which have sent crude prices soaring and fuel concerns about sustained disruption of energy flows from the Gulf. For TotalEnergies, directly exposed to oil prices, this context mechanically supports valuation. With a projected PER of approximately 8.2 times the profits of the current fiscal year according to the consensus of analysts reviewed, the stock remains undervalued relative to current price levels.
A solid stock technically, continuing the weekly rebound
On the indicators front, TotalEnergies displays a robust configuration. The price is above the MA20 at €76.05 (spread +1.54%), above the MA50 at €73.20 (spread +5.49%) and well above the MA200 at €69.15. The RSI at 63 remains in positive territory without reaching the overbought zone, leaving room before any potential tight configuration. The stock is thus consolidating below its resistance at €78.32, a threshold it has not yet broken through during the session.
Over one week, the gain reaches 3.42%, and over one month 3.6%, which illustrates an upward underlying trend since the end of August. This rebound follows the session of September 4, when the stock had given up 2% after Morgan Stanley downgraded its rating (from "overweight" to "equal weight"). Since then, the price has recovered the entire decline and regained positive momentum. The resistance at €78.32 constitutes the next level to monitor.
