Vinci share breaks below its 105.60 € support ahead of Q3 results

A support level of 105.60 € breached, then a return above it during the session

The stock is trading at 105.40 € and down 1.50 % on the session, slightly more than the CAC 40 (-1.46 %). It breached its support level of 105.60 € during the session, the lowest point of its last 250 trading days, down to 105.55 €, before briefly moving back above it. This level, already tested on October 5, 19 and 20, had turned into resistance.

The RSI at 36 remains close to the oversold zone, while the price is below its three moving averages: -1.89 % below the 20-day MA, -5.79 % below the 50-day MA and -14.43 % below the 200-day MA. The decline adds to -5.85 % over one month and -11.02 % over three months. Vinci finds itself at its lowest levels in at least a year.

Third quarter results this Thursday, a 165 M€ cooling contract in Iberia

The group is publishing its third quarter results today. It announced on October 20 that Cobra IS, its subsidiary, will build a cooling facility for a data center campus in the Iberian peninsula, for 165 M€. Cobra IS remains in contention for other phases of this campus, whose total value reaches several billion euros. On the analyst side, CIC Market Solutions maintained its buy rating on October 20 with a price target of 141 €, representing a potential of approximately 34 % compared to the current price, according to CIC Market Solutions. Eiffage and Bouygues, two construction sector stocks, declined 1.61 % and 1.31 % respectively this morning.