Stellantis at the highs of 2022. According to analysts, it can go even higher

Stellantis reaches the highs of January 2022 and stops, but analysts' forecasts are positive.
Despite this, UBS believes that the stock still has growth potential and confirms its "buy" recommendation, raising the target price from 19.00 to 20.50 euros.
Deutsche Bank analysts are even more optimistic as they raised the target price on the stock from 34 to 38 euros, confirming the "buy", in view of the quarterly report which should "benefit again from the automotive group's price mix".
The Stellantis share price is supported by the increase in production during 2023, which marks +10.12% compared to the previous year.
In the first nine months of the year, Italian plants produced a total of 567,525 units, including both cars and commercial vans, compared to 515,380 units in 2022.
This increase was mainly driven by the Pomigliano plant, which recorded a spectacular growth of 31.5% in the third quarter of 2023.
The new productions of the Alfa Romeo Tonale and Dodge Hornet SUVs, together with the Fiat Panda, played a fundamental role in this result.
Despite this success, the goal of producing one million vehicles in Italy, indicated by Minister Urso, still seems very far away.
Currently, production is still far from pre-Covid 2019 levels, down 10%.
However, a progressive improvement can be seen, especially with regard to the reduction of production stops caused by the lack of materials, which characterized 2022.
Fiom-Cgil demonstrated solidarity with the striking workers in the United States, sending a delegation to support the pickets of the Uaw union.
This gesture of solidarity reflects the importance of international collaboration in the automotive sector.
To promote more collaborative and participatory relationships between the company, workers and unions, the automotive giant plans to offer shares at subsidized terms for employees in Italy and France.
Although it is a risky investment, the advantages offered, such as the 20% discount on the market price, were assessed as significant.
Before seeing the new strategy with a Turbo Unlimited Certificates from BNP Paribas, let's analyze the support and resistance levels according to the technical analysis.
Stellantis technical analysis: operational strategies Stellantis slows down in the 19.20 euro area and seems to fail, at least for the moment, to break the July highs and the trend line that drops from the 2018 highs passing through this point.
The bearish divergence between the price chart and the 14-session RSI shows the loss of momentum in the latest momentum, supporting the presence of critical resistances.
Below 18.65 euros possible retreats towards 18.05, 17.80 and 17.40 euros.
Above 19.20, however, a signal of strength would arrive which could push prices towards targets of 20.20 and 20.90 euros.
Stellantis, daily chart.
Source: TeleTrader Below we summarize the levels to monitor for our strategy: Trigger: over 19.20 euros First target: 20.20 euros Second target: 20.90 euros Stop loss: 18.65 euros Stellantis: long strategy with Turbos Unlimited Long Certificate by Bnp Paribas In the hypothesis of a "long" strategy on Stellantis we intervene above 19.20 euros for targets at 20.20 and 20.90 euros, with a stop loss located at 18.65 euros.
For this strategy, the Bnp Paribas Turbo Long certificate with ISIN NLBNPIT1MOO8 leverage 4.15 is suitable.