Stellantis shares push up the Ftse Mib
Stock market session dominated by the auto sector which, with a 2.34% increase in the FTSE Italia All-Share Automobiles & Part, manages to do better than the banking sector despite the strong increase in Banca MPS and Unicredit, +12.29% and +4 .13%, respectively. Therefore, the auto sector accelerates on the Ftse Mib driven by a superlative Stellantis so much as to do even better than the European one. We recall that since the beginning of the year, the auto sector of Piazza Affari has totaled a performance of approximately +19%, placing itself in sixth place in the ranking of the best sectors. Not a particularly exciting performance, but still higher than that of the Ftse Mib which rose by 14.6%, the best performance in the world since the beginning of the year.
The auto sector accelerates on the Ftse Mib driven by a superlative Stellantis: the indications of the graphic analysis
The title Stellantis (MIL:STLA) closed the session of February 9 with an increase of 3.68% compared to the previous session at 15.678 euros.
Stellantis’ rise comes from afar. Since when quotes have broke the strong resistance area at €14.91 on the upside. Three times in the past, in fact, the quotations had been rejected from this level.
Then, with the close of 9 February, another piece was added to the bullish puzzle. Indeed, as can be seen from the graph, the stock broke the important resistance in the €15.60 area. By now the doors may have opened for one continuation of the rise at least up to the €17.424 area at historic highs. The maximum bullish extension, on the other hand, could go to the €19.24 area, well beyond the historical highs.
A sign of weakness, on the other hand, could come from the failure to confirm the break of the €15.6 area. In this case, the subsequent downward break of the €14.9 area could lead to a sudden downward reversal.
Increasing cross averages on the Stellantis stock which could go to touch up the historical highs
Analyst recommendations
According to the indications of the 23 analysts who cover Stellantis, the average target price expresses an underestimation of around 30%.
It should be noted that according to the analysis of market multiples, whatever the metric used, the security is highly undervalued.
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