Stellantis Shares Break Below €5.78 and Sink into the Red in the CAC 40
The Italian-American manufacturer continues another session in the red by mid-day, ranking among the worst performances in the CAC 40. The stock breaks through a technical threshold that has been monitored for several sessions, while the consensus among analysts remains predominantly neutral.
The Stock Breaks Its Support at €5.78 and Dives Below All Moving Averages
Stellantis shares lose 2.49% to €5.64 by mid-day, among the steepest declines in the CAC 40, while the Paris index remains stable. The stock breaks its technical support of €5.78 during the session, a level previously tested yesterday, marking a nearly 13% decline over a month. The situation remains severely deteriorated, with the price moving 11.2% below the 20-day moving average (€6.35) and 27.3% below the 200-day moving average (€7.75), reflecting the selling pressure established over several weeks.
The RSI at 36 indicates buyer exhaustion without yet signaling a clear oversold condition. Over the year, the value has dropped nearly 33%, following a period where adjustments in analyst targets and concerns about operational trajectory have weighed heavily.
An Autonomous Driving Partnership That Fails to Reverse Market Distrust
This movement occurs in the wake of the announcement of a partnership with Wayve and Uber on level 4 autonomous robotaxis, which fails to reverse the stock's downward trend. From the analysis desks, CIC Market Solutions reiterated on June 16 their buy rating with a target maintained at €9, representing a theoretical potential of nearly 60% compared to the current price. According to the consensus of surveyed analysts, the stock is trading at about 6.8 times the earnings expected for the current fiscal year and 3.7 times those of the next, a multiple that reflects the skepticism surrounding the group's earnings trajectory.
The manufacturer also operates in a sectoral context eased by the fall of Brent crude (around $80 after a decline of about 17% in nine sessions), favorable to automotive purchasing power. The next technical threshold to watch on the downside is below €5.78, in the absence of a rapid rebound from this now lost zone.
