Vicat Shares Drop 2.8%, Struggle Below 200-Day Moving Average Among Worst in SBF 120
The cement manufacturer from Isère experiences significant profit-taking at mid-session, after several weeks of rebound. The stock is among the lowest performers in the SBF 120, in a Parisian market trending downwards. The session interrupts a bullish momentum that began in early June.
A Consolidation Bringing the Stock to its 200-Day Moving Average
Vicat's stock falls by 2.81% to €65.60 at midday, while the SBF 120 drops 0.75%. The stock is among the largest declines in the broader index, in a session dominated by cyclical stocks. The decline follows the breaking of the resistance at €64.80 in mid-June and a rebound of over 11% in one week.
The movement today is part of a profit-taking logic: despite the drop, the price remains 4.4% above its 20-day moving average (€62.83) and 4.2% above its 50-day moving average (€62.98). However, it struggles under the 200-day moving average at €67.08, which has acted as a technical ceiling for several sessions. The RSI at 65 confirms that the buying phase has lost intensity, without tipping into an overheated zone.
A More Restrictive Macroeconomic Environment Weighing on European Cyclical Stocks
The decline is part of a more tense market context, with the CAC 40 losing 0.75% and the FTSE 100 dropping 1.31%. The more restrictive turn by major central banks, marked by the first rate hike from the ECB since 2023 and a reinforced hawkish stance at the Federal Reserve, weighs on cyclical stocks sensitive to financing conditions. The construction materials sector, capital-intensive and exposed to energy costs, is among the first affected by this monetary policy shift.
The annual performance remains solid, however, with a gain of nearly 19% over twelve months. Over three months, the stock still advances nearly 9%, indicating that the underlying trend is not questioned by today's movement. The support at €58.80 remains a major technical reference in case of an extended decline, while reclaiming the 200-day moving average at €67.08 is crucial for continuing the bullish movement that began in early June.
