Viridien Shares Drop 2.6% Amid a Month-Long Bearish Phase
Midway through the trading session, shares of the geoscience specialist have fallen, as the SBF 120 also loses ground. The decline comes as several funds increase their short positions on the stock. Today's movement brings the share price into the lower half of its recent technical range.
A Session in the Red Bringing the Share Closer to the €111 Support
Viridien shares have fallen by 2.58% to €117.10, among the steepest declines in the SBF 120, which is down 0.36% at the same time. The drop erases some of the weekly rebound and leaves the stock nearly 19% in the red over the month, despite a 104.5% gain over the year. The spectacular rise over twelve months remains largely intact. The price is slightly above the 20-day moving average at €115.44 but remains more than 8% below the 50-day moving average at €127.74, indicating that the medium-term momentum has not been restored since the post-publication drop in early May. The RSI at 48 reflects a balance between buyers and sellers, with no marked directional signal. The identified support at €111 is approaching, about 5% from the current price; this level was approached several times in mid-May before rebounding.
Short Sellers Strengthen Their Positions
According to reviewed statements, five funds now cumulatively hold 3.75% of the capital sold short, up from 3.03% a month ago. The increase of 0.72 points over thirty days marks a rise in bearish pressure on the stock. This level, above the commonly used 3% stress indicator, signals that part of the institutional community remains positioned against the stock, though no specific scenario can be inferred from this. The movement is worth monitoring as declarations are updated. In other news, the company inaugurated a new seismic imaging center in Cairo on June 1st, extending its fifty-year presence in Egypt. Technically, the €111 zone remains the short-term marker to watch if the decline continues.
