Stellantis Shares Surge Nearly 6% and Lead the CAC 40
The Italian-American manufacturer marks a strong rebound at the opening, after a bearish phase that had brought it to its lows. The stock is recovering from a closely watched technical area, in a well-oriented Parisian market. Investors are also digesting the announcement of a major recall in the Jeep range.
Technical Rebound from the €5.78 Support After Several Red Sessions
Stellantis is up 5.92% to €6.13 at the opening, leading the CAC 40 which is up 1.49%. The rebound occurs the day after a session of significant decline, during which the stock had broken its support at €6.04 to sink to the bottom of the index. Today's movement brings the price just below the 20-day moving average (€6.45), still 6% away. The 50-day MA at €6.59 and the 200-day MA at €7.80 remain significantly above, maintaining the overall downward trend despite the improvement. The RSI at 34 is exiting the oversold zone, consistent with a technical rebound starting from the support threshold at €5.78. Over the year, the stock is still down nearly 33%.
Massive Recall on Jeep and a Declining Brent Frame the Session
The manufacturer announced on June 9 a global recall involving more than 1.3 million Jeep Wrangler and Gladiator vehicles, after identifying 51 fire incidents related to an electrical connection fault in the steering pump. The investigation opened by the NHTSA in September 2024 led to this measure, the financial cost of which remains to be clarified. Concurrently, Brent crude has fallen more than 5% during the session, to around $88, on hopes of de-escalation between Washington and Tehran, a context favorable to the automotive sector through the fuel bill for consumers. According to the consensus of analysts surveyed, the stock is trading at about 7.2 times the earnings expected for 2026 and 3.9 times those of 2027. The resistance threshold at €7.02 remains the next technical reference above the price.
