TotalEnergies stock records 250-session high at €81.56
The oil major advances significantly at midday, bucking a declining Paris market. The stock is nearing its highs, with Brent remaining very elevated and the group set to publish its results next week.
A breakthrough at €81.05 that becomes support, with the 200-MA far behind
The TotalEnergies share rises 1.98% to €81.56, ranking second in the CAC 40 gains (-0.82%) behind L'Oréal. The price has just moved back above €81.05, the highest level of the last 250 sessions, which now serves as support. This level had been breached and then lost in late September, before the peak of €81.63 recorded Monday.
The stock is 11.31% above its 200-MA and 4.55% above its 50-MA, while the RSI at 62 has not reached the overbought zone. Over three months, the gain reaches 9.79%.
Brent at $114 and OAT at 5.13%: a highly contrasting trading backdrop
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Brent is trading at $114.36 per barrel (+1.05% on the session), representing a 9.1% increase since October 13, and reported attacks on tankers and Saudi facilities are sustaining supply tension. The group's share price is historically sensitive to crude oil movements. On the market front, the 10-year OAT yield stands at 5.13%, at its highest level in the series since 2004, while French debt tensions weigh on the CAC 40.
Shell, the European peer, gains 1.77% and is up 13.64% over one month. For TotalEnergies, the next milestone is the publication of third-quarter results on October 29.
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.
