TotalEnergies share breaks through its resistance at €81.05 and establishes a new support level
The oil major is recording solid gains in mid-session trading, breaking through a key technical resistance level in a context where crude oil is rebounding amid geopolitical tensions around the Strait of Hormuz. Goldman Sachs also raised its price target this morning, adding to a backdrop that has been well-oriented for several weeks.
Resistance at €81.05 broken in session, Goldman Sachs raises target to €87
The TotalEnergies share gains 1.4% to €81.11 in session, ranking among the strongest gainers in the CAC 40 in an index that is nearly flat (+0.07%). The key highlight of the morning: the stock has broken above its resistance level at €81.05 and is holding above it, transforming this level into a new technical support. This breakthrough occurs on the same day that Goldman Sachs raises its price target from €82 to €87, while maintaining an analyst consensus at "market perform".
At €81.11, the share still offers approximately 7.3% potential compared to the American bank's new target. This increase echoes that of HSBC which, on Friday, September 25, had raised its target to €93, a sign of renewed interest from major banks in the stock. The next level to watch is the round threshold of €85, identified as a psychological level above the current price.
Brent at $101 and well-positioned moving averages confirm the bullish momentum for the month
The oil market context is supporting the stock's momentum this Monday. Brent is trading at $100.99 per barrel in session, up 3.64%, after Washington rejected an Iranian plan aimed at reopening the Strait of Hormuz in exchange for sanctions relief, reviving the geopolitical risk premium on energy. In a context where crude oil is progressing significantly, earnings expectations for a major oil company like TotalEnergies remain upward-oriented according to analysts. Over one month, TotalEnergies is already up nearly 9.4%, and nearly 18.7% over three months — performances that are supported by solid fundamentals: first quarter 2026 results notably showed net income up 29% with a dividend increase.
Moving averages confirm this momentum: the price is above the 20-day MA at €78.44 (spread of +3.4%), above the 50-day MA at €76.50 and the 200-day MA at €70.96, the latter providing a cushion of over 14%. The RSI at 60 is approaching overbought territory without entering it, which is not inconsistent with a continuation of the move. It should be noted that the €1.4 billion share buyback program announced in April 2026 was executed at approximately 100% as of September 18; over a rolling twelve-month period, the group repurchased €4.4 billion in shares. Analyst consensus values the share at approximately 8.3 times expected earnings for the current fiscal year, a modest multiple for a group of this size operating in an environment where crude oil prices are oriented upward.
