Ubisoft shares rebound nearly 4%, among the best performers of the SBF 120
The Brittany-based publisher recovers mid-session in a well-oriented Parisian market. This rebound follows a very difficult October, while bearish bets remain numerous on the stock.
A rebound that leaves the stock below its three moving averages
The stock gains 3.97% to €4.42 during the session, placing it among the strongest gainers of the SBF 120, while the index rises 0.53%. The move remains modest compared with the recent decline: the share has lost 11.15% over one month and nearly 21% over three months.
The price remains below its MA20 at €4.58 (a gap of 3.43%), the first level the rebound must reach, and well below the MA50 at €4.95.
The RSI at 43 remains neutral, leaving few signs of exhaustion at this stage. Yet recent brief reports showed successive breaks of support, at €4.26 on October 29 and then at €4.10 on November 2: the next support lies at €3.91, well below the current price.
Short positions still high but down over one month
Bearish bets still weigh heavily on the Ubisoft stock: nine funds together hold 10.15% of the capital in net short position, according to the disclosures reviewed, the latest dated November 3. This level is high, but it has fallen by 1.44 points over thirty days, compared with 11.59% a month earlier.
Such a decline may reflect the unwinding of positions, which is significant when the stock is rebounding. Nothing, however, indicates a fundamental reversal: the price remains about 34% below its level of one year ago.
In this context, the next numerical reference is the MA20 at €4.58, which the stock has not yet regained.
