Viridien Shares Plunge Again, Breaking Support at €89.40
The geoscience specialist continues its downturn in mid-morning trading, breaking through another technical level. The stock suffers again due to its high exposure to the oil cycle, in a declining Paris market.
The stock breaks its support at €89.40 and sinks into tense technical indicators
Viridien's stock is down 2.29% at €85.35 during the session, breaking through its technical support at €89.40. This decline adds to a significant slide, with the stock losing nearly 26% over one month and about 36% over three months. The price is now well below its three moving averages: the 20-day MA at €105.34 (-18.98%), the 50-day MA at €119.00 (-28.28%), and the 200-day MA at €106.35 (-19.75%), indicating a bearish momentum across all time frames.
The RSI, having dropped to 24, extends the oversold territory observed in previous sessions, without initiating a technical rebound. Today's drop occurs in a context of Brent crude easing, which has fallen nearly 10% over the last ten days to around $74.98/barrel, following the removal of the Middle East risk premium. The oilfield services sector remains mechanically exposed to this underlying movement in oil prices.
Bearish bets remain high despite a slight decrease over thirty days
According to the latest statements, the cumulative net short position on Viridien stands at 3.19% of the capital, distributed among four funds (last declaration on June 23). This level has slightly decreased over a month (-0.25 points, from 3.44% thirty days ago), but remains high in absolute terms: it reflects institutional investors still positioned against the stock, in a context where the stock continues to decline. This point should be monitored without drawing isolated conclusions: the marginal reduction does not eliminate the persistent selling pressure observed over several sessions. However, the stock still maintains a positive performance over one year (+46.27%), a legacy of the rally that began at the end of 2025.
The recent sequence follows several target price reductions by analysts over the month, already documented. In terms of governance, Henning Berg succeeded Sophie Zurquiyah as CEO at the beginning of June. The stock is currently at the lower end of the SBF 120, while the index is down 0.37% in the session.
