Stellantis Shares Drop 3.5% and Approach Support at €6.13
The automaker records the worst performance on the CAC 40 at midday, within a Parisian index slightly trending downward. The stock gives back some of the ground regained in recent weeks and falls below its short-term moving averages.
Stellantis Stock Breaks Below Its Moving Averages and Loses 5.5% Over the Week
Stellantis shares fell by 3.52% to €6.40 during the session, down from a previous close of €6.63. The stock is at the bottom of the CAC 40, trailing Safran (-2.11%) and Airbus (-1.98%), as the Parisian index drops by 0.39%. Over the week, the automaker has lost 5.47%, erasing part of the rebound seen in May, which still leaves a monthly gain of 2.9%. The stock has fallen below its MM20 (€6.57) and MM50 (€6.55), thresholds it had crossed at the end of last month. The MM200 at €7.88 remains out of reach, with the price 18.85% below this average. The RSI at 52 remains neutral, indicating no seller exhaustion. The technical support identified at €6.13, already tested at the end of May following the presentation of the strategic roadmap, becomes the next downward reference point.
CIC Market Solutions Maintains €9 Target Following FaSTLAne 2030 Plan
CIC Market Solutions reaffirmed yesterday its buy recommendation with an unchanged price target of €9, representing a theoretical potential of more than 40% compared to the current price. This stance follows the strategic plan FaSTLAne 2030 unveiled on May 21 at Auburn Hills, which commits €60 billion over five years. The stock had then dropped 4%, before rebounding more than 10% the following week. According to the consensus of analysts surveyed, the stock is trading at about 7.5 times the earnings expected for the current fiscal year and 4.1 times those of the next year. The operational schedule remains busy. In recent weeks, the group has multiplied announcements, including the creation of Octago with MSX International for Eurorepar Car Service, the European joint venture project with Chinese Dongfeng, and three partnerships on autonomous driving. Today's consolidation brings the stock back to the technical thresholds monitored since the post-Investor Day rebound, with the support at €6.13 as the next factual reference.
