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Fiat Chrysler Stock: This Week’s Key Technical Levels

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Fiat Chrysler Automobiles

So far in this series, we’ve looked at recent updates and stock performances for Tesla (TSLA), General Motors (GM), and Ford (F). As of February 24, 2017, Fiat Chrysler (FCAU) stock has risen about 18.3% YTD (year-to-date). But last week, the stock turned negative and fell about 4.9%.

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Weekly technical levels

On February 15, 2017, Fiat Chrysler stock posted a fresh all-time high near $11.63 and then turned negative. Technically, the stock’s underlying momentum is weakening, and the $11.63 price level should continue to act as an important resistance going forward.

On the downside, a major horizontal support lies near $10.20. A violation of this support level could trigger a further sell-off in the near term.

Last month, Fiat Chrysler released its 4Q16 results. It reported strong adjusted EPS (earnings per share) of 0.27 euros, or $0.29, which was about 68.0% higher than 4Q15. But it was much lower than analysts’ estimate of 0.42 euros, or $0.45.

To find out more, you can read Market Realist’s series Fiat Chrysler’s 4Q16 Results: Coasting Toward 2018 Targets?

Auto industry’s 4Q16 earnings

Last week, Tesla released its 4Q16 earnings report. The company is likely to launch its mass market electric vehicle Model 3 in the second half of this year. To learn more, read Tesla’s 4Q16 Earnings Overview: Warming Up for Model 3?

GM and Ford, the two largest US automakers (XLY), have already released their 4Q16 earnings. You can read GM’s 4Q16 Earnings Review: What Went Wrong Last Year? and Ford’s 4Q16 Earnings: Another Disappointment? to find out more.

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