Viridien shares break through their €100.20 resistance and post the best gain in the SBF 120
The geoscience specialist posts the strongest gain in the SBF 120 in a well-oriented Paris market. The surge follows quarterly results with mixed readings, as the stock returns to a technical level observed over several sessions.
A surge that erases most of the previous day's decline and boosts the monthly trend
The share price gains 14.07% to €104.60, far ahead of the rest of the index: the SBF 120 rises 1.49% at midday.
The stock led the gainers ranking ahead of Métropole TV (+12.06%). This surge extends a rebound under way for several weeks: the stock is up 23.64% over one month and 9.07% over one week.
On November 3, Viridien had published third-quarter results with mixed readings: revenue from operations down 24% to $237M, but net debt excluding IFRS 16 reduced by 18% to $656M, and an annual net cash flow target confirmed.
The group is also targeted by cumulative net short positions of 10.50% of its share capital, declared by ten funds, a level down 0.72 points over thirty days. This level remains high: it reflects a bearish bet still firmly present on the stock, which the day's movement is testing.
The €100.20 level reclaimed, with the 200-day moving average at €106 as the next obstacle
In terms of price levels, the stock broke through its €100.20 resistance during the session, also the highest of the last thirty sessions, and is holding above it: this level is becoming support.
The share price is more than 13% above its 20-day moving average (€91.97), but remains 1.32% below its 200-day moving average (€106), which the rebound has not yet reclaimed.
The RSI at 64 does not signal overbought conditions. The oil context supports the session: Brent falls 1.35% to $102.20, after a 7.7% decline over eight sessions, in a petroleum-related sector directly exposed to the price of a barrel.
The 200-day moving average at €106, about 1.3% above the current price, is the next level to clear.
