Stellantis: The Nvidia of Autos has formed a Bearish ABCD that is visible on the Monthly Timeframe with MACD Bearish Divergence and Bearish PPO Confirmation. If this plays out, we could see this go towards the C level, which aligns with the 0.786 retrace at €4.48
Overall I'm probably bullish on Stellantis given the current trend.
The 15€ level is particularly important since it has already been touched in mid August and acted as a strong resistance rejecting the steep bull-run fueled also by the Q2 results that outperformed analysts' expectations.
If that level is broken with decent volumes there might be some...
My trading idea for Stellantis : Buy / LONG
Target: USD 15.00 (+16% gain)
The carmaker formed by the merger of FCA and PSA will report its financial results on 28 July. Positive results are expected as margins have increased.
There is also a robust support line in the USD 11.00 to USD 12.00 range. This was successfully tested in July.
STLA is the 2nd biggest vehicles manufacturer in Europe, after VW.
It includes several major brands, such as Citroen, Chrysler, Mazerati, Fiat busses, recently Peugeot was added to the list.
It has a good PE ratio (4.3), no debts, BUT very low net income.
Recently STLA stock decreased in price, probably because of the low net income.
An interesting stock to...
