Viridien Shares Plunge Nearly 30% Over a Month, RSI at 24 Indicates Oversold
The geoscience specialist continues its slide at midday, while the CAC 40 attempts to stabilize. The stock remains mired in a significantly deteriorated long-term trend, far from its moving averages and under the continuous pressure of short sellers.
Viridien Dips Below Its Moving Averages with an RSI in the Oversold Zone
Viridien's stock falls 2% to €78.30, extending a slide that has seen the stock decline nearly 29% over a month and 37% over three months. The downturn is evident in the chart positioning: the price is more than 25% below its MM20 (€105.34) and over 34% below its MM50 (€119.00), while the MM200 at €106.35 remains out of reach. An RSI at 24 indicates significant overselling, consistent with the break of the support at €89.40 that occurred at the end of June as documented in a brief from June 26. The MACD at -7.01, below its signal line, confirms the weakness of the short-term dynamic. The annual performance remains positive (+25%), a legacy of an early-year rally, but all medium-term technical indicators are oriented downwards.
Persistent Selling Pressure as the Calendar Remains Quiet
The short-selling ledger remains tense: according to reviewed declarations, six funds cumulatively hold 4.24% of Viridien's capital sold short, a high level that has increased by 0.38 points in a month. This positioning reflects a settled institutional skepticism about the stock, without overinterpreting its significance: the accumulation progresses gradually rather than in bursts, indicating a bearish bet that is settling in rather than accelerating. This pressure accompanies the recent plummet of the stock, largely linked to the decline in Brent since the end of June as reported in recent briefs. On the corporate news front, the group highlighted its geoscience innovations in early July through a podcast produced with New Scientist, which had no notable effect on the stock price. With an RSI at 24 and a price now 12% below its former support of €89.40, now resistance, the next technical zone to watch remains this threshold, the only medium-term graphical reference above the current price.
