Viridien Shares Down 2% with Brent, Still Up Nearly 100% Year-On-Year
The geoscience specialist's stock falls in mid-afternoon trading, bucking the trend of a sharply rising SBF 120. The plummeting Brent crude prices once again weigh on the stock, which is directly exposed to the oil cycle. However, the stock's performance remains significantly positive over the year.
Today's Decline Follows a 5% Drop in Brent
Viridien's stock drops 2.07% to €113.40 during the session, while the SBF 120 gains more than 1%. This movement coincides with a downturn in Brent crude, which falls 5.08% to $94.52, accumulating a 14.6% decline over eight sessions. The company, whose activities are tied to the exploration spending of oil companies, endures this context as markets fluctuate between signals of diplomatic de-escalation and sporadic strikes around the Strait of Hormuz.
However, the stock still holds a nearly 99% gain over the year, a legacy of the spectacular rally that began earlier in the year. The quarterly publication on May 6 had already marked a clear break in momentum. Over three months, the performance has been negative, at around -6%.
According to reviewed statements, four funds hold a combined net short position of 2.91% of the capital, down 0.32 point over thirty days. This modest and slightly declining level indicates that a limited portion of the float remains positioned for a downturn, without recent acceleration. This is a data point to monitor over time rather than isolate as a signal of the day.
Crossing Below the 20-Day Moving Average Favors Sellers
The chart configuration worsens. The price now moves below its 20-day moving average (€121.89), with a gap of nearly 7%, and even more distinctly below the 50-day moving average at €128.76, about 12% above the current price. However, the stock still maintains a comfortable margin above its 200-day moving average (€101.22), indicating a long-term trend remains intact despite ongoing consolidation.
The technical support at €111.00 becomes the level to watch: today's price approaches it, after having already tested it several times in recent weeks, particularly during the sessions of May 8 and May 18. The RSI at 42 indicates moderate selling pressure, without entering an oversold zone. The MACD remains negative, consistent with the loss of short-term averages.
On the agenda, the next key date is the general meeting on June 3. The maintenance of the support at €111 is the immediate technical reference for the upcoming sessions.
