Vallourec shares hit their highest level in 30 sessions and gain 1.5%
The seamless tube manufacturer extends its rebound in a Paris market trending higher. It has moved back above a recent high, which has become support, while short positions declared on the stock have increased markedly in recent weeks.
A 30-session high broken, now acting as support
Vallourec shares gain 1.57% to €19.75 intraday. The stock has broken upward through its 30-session high of €19.44, which now acts as support, and has moved above its short-term moving averages: the MM20 stands at €18.78, a gap of 5.14%.
The MM200, at €20.64, remains however 4.34% above the price, which limits the scope of the move over the long term.
The rebound is part of a gain of nearly 7% over the week and 10.4% over one month, with an RSI at 62, which remains in the intermediate zone.
In the SBF 120, which is up 0.31%, the stock ranks 15th out of 120 without appearing among the largest gainers in the index. On November 6, the group also replaced its two undrawn bank credit lines with a single 750 M€ revolving credit facility, on more favourable terms according to its press release.
Short positions up 1.12 points over one month
According to the disclosures reviewed, five funds together hold 4.08% of Vallourec's capital in net short position, compared with 2.96% thirty days ago, an increase of 1.12 points. This level indicates that institutional investors remain positioned against the stock or are seeking to hedge an exposure, although the source does not allow the reasons to be determined. It should be compared with analysts' opinions, which can be found in the consensus of analysts on Vallourec.
On the business side, the group published its first-half 2026 results on July 30, with liquidity of $2.0 billion as of June 30 and EBITDA (RBE) for the Tubes segment up to $372 million.
During the session, Brent gains 1.5% to $92.86 per barrel, after a 12.8% decline since November 2.
