Stellantis Shares Drop 4% Breaking Support at €6.04
The Italian-American manufacturer continues another session in the red, plummeting to the bottom of the Paris index. The stock breaks a technical threshold closely watched for several weeks, in a generally poorly oriented market. Adjustments in analysts' targets increase the mistrust surrounding the stock.
Stellantis Breaks Its Support at €6.04 and Drops Over 3% at Close
Stellantis shares fell 3.99% to €5.80 at close, marking the worst performance on the CAC 40, as the Paris index modestly retreated by 0.18%. The stock broke its support at €6.04 during the session and finished below this threshold, extending a downward trend already visible since the beginning of the month.
The decline reached nearly 10% over the week and more than 31% over the year, illustrating the extent of the discount accumulated by the stock. The price is now 10.58% below the 20-day moving average (€6.53) and over 25% below the 200-day moving average (€7.82), a configuration that reflects a technically degraded dynamic at all terms.
The RSI at 39 remains below the neutral threshold of 50 without entering the oversold zone, indicating that the selling movement has not yet run its course.
Citi Lowers Its Target to €7.20, CIC Market Solutions Maintains Buy Rating
In terms of recommendations, Citi has reduced its price target from €7.50 to €7.20, maintaining a 'hold' opinion.
Based on the expected earnings per share, the stock is trading at about 6.9 times the earnings for the current fiscal year according to the consensus of analysts gathered. The partnership formed yesterday with Bolt and Pony.ai to test autonomous vehicles in Luxembourg has not been sufficient to halt the downward trend.
