Turbo Trading Idea Stellantis (STLA) stock returns near major resistance

Stellanti’s stock outlook remains bearish despite the recent rally

Stellantis (STLA) shares may fall in the near term after reaching close to a major resistance zone at €15. The auto giant has recently benefited from a revival of risk appetite among market participants, thanks in particular to speculation of less monetary tightening by the Fed.

Nevertheless, sentiment can quickly turn risk-on again, and markets are quickly correcting their strong recovery from the past few weeks. In fact, Fed officials may get tough as the market recovery has eased financial conditions, which is counterproductive to the central bank’s fight against inflation.

Also, PCE inflation for October, released at the end of the month, may not confirm the significant slowdown in inflation because the medical component, the main cause of the decline in the CPI, is calculated differently.

Finally, e-commerce giant Amazon will share its annual Black Friday and Cyber ​​Monday sales figures at the end of the month, which could also reignite risk aversion if the numbers disappoint.

In the longer term, the Stellantis group should increasingly be punished by central banks’ monetary policy tightening, as access to credit and financing conditions become increasingly difficult for consumers and businesses.

Stellantis (STLA) stock price daily chart – key levels

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