Thales Moved to the Watchlist

The remaining Thales position of around 3.0% was sold in full and the stock moved to the UMBRELLA watchlist. The trigger was the stop-loss following a significant deterioration in the technical picture. The sales were executed on September 8 at prices of around EUR 231.

Thales – Price Action with Technical Exit

(As of September 8, 2026)

Thales – Price Action with Technical Exit
Source: TradingView, as of September 8, 2026.

The fundamental view on Thales has not fundamentally changed as a result. Following the exit, we are monitoring in particular further price action and a possible technical stabilization.

More on the decision and the current development of European defense stocks:

European Defense Stocks Under Pressure: How the UMBRELLA Strategy Reacts