Vusion shares break through €140 and gain 11% over one month
The electronic shelf label manufacturer is accelerating its rebound in a Paris market clearly tilted to the upside. The stock has just broken through a technical level monitored for several weeks, a few hours after a commercial announcement with a major British retailer.
A rebound that reclaims €140.20 and widens its gap from its moving averages
Vusion shares gained 2.43% to €143.60 intraday, after reclaiming their highest level of the last 30 sessions at €140.20. This threshold, a former resistance, now acts as support.
The price is 12.8% above its 20-day moving average (€127.34), a measure of a rebound that is extending: +10.6% over the week, +11.2% over the month.
The RSI at 71 reflects this sustained pace. The next resistance is located at €147. The move follows a CAC 40 up 1.54% and an SBF 120 up 1.5%, with the stock ranked 33rd in the index at midday.
Marks & Spencer, Citi and a stock still down 38.7% over one year
In the morning, Vusion announced that Marks & Spencer will deploy its EdgeSense smart rails in several new stores, with a possible extension to other outlets of the retailer.
On the analyst side, Citi initiated a buy rating on November 2 with a price target of €250, implying a potential of 74% relative to the current price. This rebound does not erase the scale of the annual decline: the stock is still down 38.7% over twelve months.
According to the declarations consulted, net short positions on the stock fell to 2.15% of capital, held by three funds, compared with 3.91% a month earlier, a decrease of 1.76 points that signals an easing of selling pressure. The next figure to watch is the resistance at €147.
