Milan: major selling for Stellantis
(Teleborsa) - The International automobile company is bearish as it trades -2.34% down.Looking at the weekly scenario, Stellantis lagged the benchmark index's gains, showing a lower performance than the FTSE MIB average.
The technical picture is visibly deteriorating, with support in the 23.67 Euros area. On the upside, the main exit level is seen at 23.96. Stellantis's decline is highlighted by the 5-day moving average crossing below the 34-day moving average. In the immediate future we are likely to see a further decline towards a target of 23.56.
These analyses are to be considered solely for information purposes and are not in any way intended to constitute financial advice, a solicitation of funds from the public or the promotion of any form of investment.
(Teleborsa Research Department)
(Teleborsa) 04-19-2024 09:35 AM