FCAU’s technical analysis
So far in this series, we’ve explored Fiat Chrysler Automobiles’ (FCAU) 4Q17 earnings estimates and valuation multiples. Despite recent positive trends, the company’s valuation multiples are currently trending lower than those of its direct peers General Motors (GM) and Ford Motor Company (F).
While valuation multiples can help investors make informed decisions, it’s also important for investors to be aware of a company’s key technical levels. Investors can use technical support and resistance levels to refine their entries or exits from a company’s stock.
Updated support and resistance
On January 16, 2018, Fiat Chrysler stock was trading at $22.71. The stock has risen ~27.3% in 2018 so far. Notably, the stock posted its all-time high of $23.79 on January 12, and it was also hovering well above its 50-day moving average of $18.43, reflecting underlying bullish sentiments. FCAU’s all-time high of $23.79 should continue to act as an immediate resistance level in the coming week, and any violation of this level could attract renewed buying in the stock.
On the downside, there’s no key horizontal support area above $17.90 for Fiat Chrysler stock.
4Q17 earnings season
The auto industry’s (IYK) 4Q17 earnings season will begin with Ford’s earnings results on January 24, 2018. This will be followed by Fiat Chrysler’s and General Motors’ 4Q17 earnings reports on January 25 and February 6, respectively.
Legacy motorcycle maker Harley-Davidson (HOG) is likely to release its fourth-quarter results on January 30. Auto investors can stay updated on analysts’ estimates for these auto companies by visiting Market Realist’s Auto page.