TotalEnergies stock breaks its support at €78.84 and targets €74.17
TotalEnergies declines this morning of September 30, following a turbulent week that saw the security break through and then fall back below its resistance at €81.05. The security now finds itself below two of its moving averages, in a CAC 40 almost in equilibrium, while two research firms published radically opposite opinions on the value yesterday.
Below the MA20 and MA50, TotalEnergies slides towards its support at €74.17
TotalEnergies declines 1.28% to €76.21 in trading, among the strongest falls in the CAC 40, while the Paris index moves in near-equilibrium (-0.04%). The security is below its MA20 at €78.84 (difference of -3.34%) and below its MA50 at €76.83, which extends the short-term downward momentum initiated after the failed break of the €81.05 resistance. Conversely, the price remains above its MA200 at €71.19, which continues to provide medium-term support.
The RSI at 50 signals neither oversold nor overbought conditions, leaving the technical configuration in between. The next zone of interest remains the support at €74.17, approximately 2.7% below the current price. Over one month, the security maintains a gain of 2.06%, and over three months the increase reaches 10.48%.
Opposing analyst opinions following the 2035 roadmap presented in New York
The session follows TotalEnergies' strategic presentation, held in New York on September 28, during which management detailed its objectives extended to the 2035 horizon and a dividend increase policy of over 5% per year by 2030. Following this, two research firms published divergent opinions yesterday. Oddo BHF raised its price target from €85 to €88, while maintaining its "outperform" rating: this represents an upside potential of nearly 15% compared to the current price.
In contrast, Alphavalue lowered its target from €76.10 to €74.60, confirming its "underweight" opinion: the objective is now slightly below the current price, which signals caution regarding valuation. On this front, the analysts' consensus values the security at approximately 7.6 times the expected earnings for the current fiscal year, according to the recorded consensus. Furthermore, the €2.1 billion share buyback program announced on September 28 is in its early stages, with approximately €63 million executed as of September 29.
