Stellantis Shares Drop Nearly 2% and Fall Below the €6.13 Support
The Italo-American automaker starts the week with a sharp decline in Paris, positioning itself at the bottom of the CAC 40. The stock breaks through a technical threshold that has been monitored for several sessions, extending a downturn that was already significant last week.
Opening Decline
At the opening, Stellantis shares dropped 2.23% to €6.09, becoming the worst performer in the CAC 40, which fell 0.69% during the session. The stock broke its support at €6.13, which had already been tested at the end of May during the Investor Day in Auburn Hills. The decline continues the trend from the past week, which ended with a loss of 11.21%. Over the year, the manufacturer has lost nearly 30%. Renault, the only French comparable mentioned, meanwhile fell by 0.52%.
Below All Moving Averages, Stock Remains Vulnerable; FaSTLAne 2030 Plan Weighs on Value
The stock is now trading below its three moving averages: the MM20 at €6.55, the MM50 at €6.59, and most notably the MM200 at €7.85, with a gap of over 22% from the latter. The RSI at 42 remains neutral, without a clear oversold configuration despite the magnitude of the weekly decline. Confidence continues to wane despite the strategic plan FaSTLAne 2030, unveiled on May 21 by Antonio Filosa, which commits €60 billion over five years. The roadmap has not convinced sustainably, despite some attempts at a rebound at the end of May accompanied by target adjustments from UBS and Jefferies. According to the consensus of analysts surveyed, the stock is trading at about 7.1 times the earnings expected for the current fiscal year. The next technical threshold to watch remains the €6 zone, now in contact with the price after breaking the €6.13 support.
