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STLA - Upwards and Onwards
STLA (formerly Fiat Chrysler) is a stock I added to my portfolio a while ago. In comparison to some of the tech and cryptos the stock might seem boring but it has shown a solid long term uptrend and only recently encountered a bit of volatility mostly around the coporate action in early 2021.
According to the analyst consensus on IBKR the stock has a $20 price target which is roughly 50% above current market price. Now I am not expecting a rocket ship to get us there but for the patient investor it might be worthwhile looking into.
What I like:
What I watch:
* 38% Fibonacci levels currently providing support while 50% Fib seems resistance
* Possible price action and breakout pre-earnings around support/resistance levels
* Major resistance above $15 (2020/21 highs)
* MACD and RSI indicate neutral momentum
* Covid re-opening story as this will impact auto sales
* Chip shortage that may disrupt supply chains and this impact earnings in Q1 and Q2 21
Way forward:
* Maintaining position with SL around 11.90 (recent lows)
* Currently no upper price target
Conclusion:
I personally like the stock and believe it is a good addition to a diversified portfolio. The stock in itself holds a large diversification towards various markets and customers and is thus a good global economic recovery play.
*** The above shall not be considered investment advice and represents my personal view. Risk management is key, do not trade what you can't afford to loose***
According to the analyst consensus on IBKR the stock has a $20 price target which is roughly 50% above current market price. Now I am not expecting a rocket ship to get us there but for the patient investor it might be worthwhile looking into.
What I like:
- Exceptionally large range of vehicles in pretty much all price classes and purposes
- Large global diversification in terms of markets
- Fundamentally solid with comparatively low debt ratio to peers
- Technicals indicate longterm uptrend is still intact despite recent volatility
- Currently trading sideways in a narrow channel post recent pullback in early 2021
What I watch:
* 38% Fibonacci levels currently providing support while 50% Fib seems resistance
* Possible price action and breakout pre-earnings around support/resistance levels
* Major resistance above $15 (2020/21 highs)
* MACD and RSI indicate neutral momentum
* Covid re-opening story as this will impact auto sales
* Chip shortage that may disrupt supply chains and this impact earnings in Q1 and Q2 21
Way forward:
* Maintaining position with SL around 11.90 (recent lows)
* Currently no upper price target
Conclusion:
I personally like the stock and believe it is a good addition to a diversified portfolio. The stock in itself holds a large diversification towards various markets and customers and is thus a good global economic recovery play.
*** The above shall not be considered investment advice and represents my personal view. Risk management is key, do not trade what you can't afford to loose***
Trading ditutup secara manual
Closed my position at 16.50. Long term I remain positive and the stock remains on my watchlist. Would want to see the stock break above recent highs before re-entering.
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