Ubisoft shares fall below their €4.10 support and drop 4% intraday
The Breton publisher sharply extends its decline this Monday, in a Parisian market that is nonetheless trending higher. The stock ranks near the bottom of the broader index after a very heavy October.
A support broken to the downside, RSI down to 20
The stock falls 4.17% to €3.93, while the CAC 40 gains 0.46% and the SBF 120 gains 0.40%. It broke intraday through its lowest level of the last 30 sessions (€4.10), which has now become resistance. The next support level is at €3.84, less than 2.5% below the current price.
The RSI at 20 reflects the magnitude of the recent decline: the stock has lost 9% over one week and 23.6% over one month. It ranks among the largest decliners of the SBF 120, behind Alstom, Nanobiotix and Maurel et Prom.
Every moving average remains well above the share price: the MM20 at €4.71 is more than 16% above it, while the MM200 (€4.88) is more than 19% above it.
Ten funds remain short on 10.59% of the share capital
The net short positions identified through the disclosures reviewed represent 10.59% of the share capital, spread across ten funds. This total has declined by one point over thirty days, after 11.59% a month ago.
A level of this order shows that a significant portion of the capital remains positioned for a decline, even though selling pressure has eased somewhat over the period.
The stock's outlook remains weak: Ubisoft has lost nearly 31% over three months and more than 49% over one year. In the breakdown below the €4.26 support recorded last week, the stock had already fallen 3.5% intraday. Today's session thus extends a decline that has been under way for several weeks.
