Ubisoft Entertainment shares, worst performer on SBF 120 with a decline of 8%
The Breton publisher's stock is accentuating its decline at the opening of trading in a Paris market heading lower. It occupies the bottom of the expanded index ranking, as new analyst opinions have just been published.
A decline that extends the breakdown of the 4.88€ support level
The Ubisoft Entertainment share is down 8.22% to 4.56€ during the session, making it the sharpest decline on the SBF 120, an index falling 1.42%. The share price had already broken below its 4.88€ support level on October 20. This level, the former floor for the last 30 trading sessions, is now acting as resistance.
The movement is pushing it further from moving averages: the 20-day MA (5.05€) is 9.7% below the current price, the 200-day MA (4.95€) is 7.9% below. The RSI, which has fallen to 30, is approaching the oversold zone. The decline has reached 15.5% over three months and 44.5% over one year.
BNP Paribas Exane downgrades to underperform, price target at 3.50€
This Thursday, BNP Paribas Exane downgraded its opinion on Ubisoft to "underperform", with a price target of 3.50€. This target is approximately 23% below today's price. Short sellers remain present: according to available declarations, nine funds hold a cumulative net short position of 10.26% of capital, a high level but down 2.23 points over 30 days.
This decline indicates that certain bearish bets have been unwound or reduced, though selling pressure has not entirely disappeared. The support level at 3.79€ is the next identified technical level below the current price.
