Stellantis Shares Drop 2% and Threaten Key Support at €5.78
The Italo-American manufacturer is on the decline right from the start of trading, despite a reiterated buy rating by a broker last night. The stock is once again among the most significant losers in the CAC 40, weakened by a still deteriorated technical environment.
Stellantis Nears Key Support at €5.78 Again
Stellantis shares are down 1.96% at €5.86, among the biggest drops in the CAC 40 while the Paris index is almost stable. The stock is approaching its support at €5.78, already tested earlier in the week after breaking the €6.04 threshold on June 10. The technical setup remains degraded: the price is 8.2% below its 20-day moving average (€6.38) and more than 24% under its 200-day moving average (€7.76), while the MACD remains negative below its signal line. The RSI at 41 does not send an extreme signal, which leaves the stock limited room to maneuver before truly testing the support zone. Over one year, the decline now reaches 31.4%.
CIC Market Solutions Maintains €9 Target, Over 50% Potential
Against the market trend, CIC Market Solutions reaffirmed its buy recommendation on the stock yesterday, with an unchanged target of €9. Based on the current price, this represents a theoretical potential of over 53%. Based on expected earnings, the stock is priced at about 7 times 2026 profits and 3.8 times those of 2027, according to the consensus of analysts surveyed. The manufacturer is in full execution of its FaSTLAne 2030 plan, unveiled on May 21 at Auburn Hills, which plans €60 billion in investments over five years. Initial operational announcements are following, from the project of a small electric city car in Pomigliano d'Arco to the intention to create a European joint venture with Dongfeng. The support at €5.78 is the technical level to watch in the coming sessions.
