Trigano Stock Rebounds Over 4% and Defends Its Support at €143.60
The French recreational vehicle manufacturer rebounds sharply during the session, going against the recent downward trend. The stock benefits from a buoyant Parisian market, following the ECB's decision and amid easing oil tensions. The movement comes after testing a closely watched technical threshold.
Technical Rebound at the €143.60 Support in a Buoyant Parisian Market
By midday, Trigano's stock has gained 4.11% to €149.50, after closing the previous day at €143.60. The stock rebounds from its identified support at €143.60. The RSI at 33 indicates the exhaustion of selling pressure observed since the end of May, while the price remains 3.56% below its 20-day moving average and 4.69% below its 200-day moving average.
The rebound thus needs confirmation to reclaim these moving averages. The movement is part of a well-oriented Parisian market, with the SBF 120 up 1.77% during the session and the CAC 40 up 1.82%, following a 25 basis point increase decided by the ECB and the relaxation on Brent crude falling below $90. The VIX is down 13.73% at 19.17, signaling a general easing of risk aversion.
Moderate Valuation and a Timeline Marked by the Support Test at €143.60
Based on the consensus of analysts surveyed, the stock is trading at about 9.7 times the earnings for the current fiscal year and 9.0 times those of the next year, with an expected EPS growth of 7.5% from one year to the next. A valuation that remains contained after a 5.14% decline recorded over the month, while the annual performance is still positive at 8.57%. Today's rebound erases the weekly decline (-3.92%) and mitigates the monthly decline (-5.14%).
The maintenance of the support at €143.60, a level precisely tested at the beginning of the week after the price target revision on June 9th, becomes the central technical reference. The next resistance is at €162.10, in the area of the 50 and 200-day moving averages.
