Viridien Stock Breaks Below €100 Threshold

Viridien Shares Down 1.1% to €98.90, Falling Below €100

Viridien shares have fallen by 1.1% to €98.90 at midday, while the SBF 120 is up 1.73% at the same time. The stock has broken through its €100 support level, a threshold that had been defended in previous downturn sessions. The decline reaches nearly 14% over a week and about 22.5% over three months, erasing a significant portion of the gains accumulated since the start of the year. The price is now below its three moving averages: the MM20 at €113.82 (a gap of -13.11%), the MM50 at €124.54, and the MM200 at €104.93. An RSI at 28 indicates exhaustion of the selling phase that has been ongoing for several sessions. The downturn is occurring against the backdrop of a strongly rising Parisian market, buoyed by a drop in Brent crude below $89 and a VIX decline of nearly 14%.

Bernstein Lowers Target to €130 as Bearish Bets Continue to Rise

Bernstein lowered its price target from €163 to €130 on June 10, while maintaining an 'outperform' rating. Based on the current price, the new target implies a theoretical upside potential of about 31%. This revision followed a 6% drop observed at the beginning of the week, from which the stock is struggling to recover. Simultaneously, selling pressure is increasing: according to reports, five funds now collectively hold 3.79% of the capital sold short, up from 2.36% a month ago (+1.43 point in thirty days). This rapid increase reflects a rise in bearish bets on the stock, though it is not sufficient to conclude a lasting reversal in sentiment, as other factors may also be at play. The more than 5% drop in Brent during the session, amid hopes for de-escalation in the Middle East, also weighs on stocks exposed to the oil cycle. Nevertheless, the stock still maintains a lead of more than 72% over one year, compared to the immediate €100 support level that is drawing attention.