FCAU’s technical analysis
So far in this series, we have explored Fiat Chrysler Automobiles’ (FCAU) 2Q17 earnings estimates, analysts’ recommendations, and valuation multiples. The company’s valuation multiples are currently trending lower than its direct peers such as General Motors (GM) and Ford (F).
While these valuation multiples could help investors in making informed decisions, it’s also important for investors to be aware of several important technical levels. Investors can use these technical levels to refine their entry and exit strategies with respect to a company’s stock.
Important support and resistance levels
On July 19, FCAU stock was trading at $12.05. The stock has risen about 32.7% in fiscal 2017 so far.
After early July gains, its stock is hovering well above its 50-day SMA (simple moving average), which stood at $10.96 and reflected underlying bullishness. On July 20, Fiat Chrysler’s stock price posted a fresh all-time high level near $12.07, which should act as an immediate resistance level.
On the downside, no key horizontal support area was seen above the $11.60 price level in FCAU stock.
2Q17 earnings reports
The auto industry’s (XLY) 2Q17 earnings season has already begun with Harley-Davidson (HOG), which reported dismal 2Q17 earnings results on July 18. Please read Why Harley-Davidson’s 2Q17 Earnings Triggered a Sell-Off to learn more.
Fiat Chrysler’s direct peers General Motors (GM) and Ford (F) are expected to release their 2Q17 earnings in the final week of July 2017. Investors can stay updated with analysts’ estimates for these earnings by visiting Market Realist’s Auto page.