Stellantis Shares Climb Over 3% After a 12% Increase in Q1 Billings
Stellantis shares surged more than 3% this Wednesday morning, crossing the 7.14 euros mark following the announcement of significantly higher billings in the first quarter. This rebound extends a weekly dynamic already marked by a nearly 13% gain over seven days. However, the stock is trading in a slightly declining Parisian market context, with the CAC 40 down 0.63% during the session.
Key Earnings Announcement Drives Session
This morning's announcement of the first quarter figures serves as the main catalyst for the session. Stellantis recorded 1.4 million billed units during the period, up 12% year-over-year. This recovery in volumes comes as the automaker is undergoing an industrial transformation. The annual general meeting, held the day before, did not generate any particular signals, but the complete financial results for the first quarter, expected on April 30, should help assess the impact of this commercial recovery on the group's margins and profitability. It should be noted that TD Cowen slightly lowered its price target from 7.81 to 7.68 euros on April 13, while maintaining a 'hold' recommendation, suggesting a limited potential of 7.6% relative to the current price.
Technical Analysis Indicates Overbought Condition
From a technical standpoint, Stellantis NV is now trading above the upper boundary of its Bollinger Bands, set at 7.07 euros, indicating a potential overbought signal. The price, at 7.14 euros, is at 104% of the band, illustrating the strength of the recent bullish momentum but also the distance of the stock from its equilibrium zone. The 50-day moving average is at 6.49 euros, marking a gap of more than 10% with the current price, confirming the magnitude of the catch-up movement. The RSI, at 60, does not yet indicate extreme tension but is approaching high levels. Over three months, the stock remains down by 18.5%, and the 200-day moving average, at 8.15 euros, reminds us that the path to full normalization remains long. The resistance identified at 6.93 euros, corresponding to the previous day's close, has just been breached, potentially paving the way for a phase of consolidation or continuation of the rebound depending on the evolution of the coming sessions.
