Fiat Chrysler shares edge up in Milan on Friday, 1 200 SUVs to be recalled in India

According to a statement by Fiat Chrysler Automobiles NV on Thursday, 1 200 Jeep Compass sports utility vehicles, sold in India, are to be recalled, so that the front passenger air bag can be replaced.

As of 10:52 GMT on Friday the shares of Fiat Chrysler were gaining 0.13% (EUR 0.020) on the day to trade at EUR 14.870 at the Milan stock exchange.

In New York, Fiat Chrysler shares closed lower for the third time in the past nine trading sessions on Wednesday. It has also been the steepest daily loss since November 9th. The stock went down 1.73% ($0.31) to $17.60, after touching an intraday low at $17.56, or a price level not seen since November 20th ($17.44).

In the week ended on November 19th the shares of the vehicle manufacturer added 0.52% to their market value compared to a week ago, which marked the third gain out of four weeks.

The stock has pared its advance to 1.44% so far during the current month, following a 3.13% slump in October. The latter has been the first drop since May.

For the entire past year, the shares of the NYSE-listed auto maker lost 0.55%. However, the stock has gained 92.98% so far in 2017.

According to Fiat, during the airbag module assembly procedure “loose fasteners may have inadvertently found their way undetected into a small number of modules”.

The announcement is part of a larger recall, which Fiat revealed earlier this week. The same issue has urged the company to recall 7 000 SUVs sold in the United States and 1 000 SUVs sold in Mexico and Canada.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Fiat Chrysler stock (NYSE) are presented as follows:

R1 – $17.63
R2 – $17.65
R3 (Range Resistance – Sell) – $17.68
R4 (Long Breakout) – $17.75
R5 (Breakout Target 1) – $17.84
R6 (Breakout Target 2) – $17.88

S1 – $17.57
S2 – $17.55
S3 (Range Support – Buy) – $17.52
S4 (Short Breakout) – $17.45
S5 (Breakout Target 1) – $17.36
S6 (Breakout Target 2) – $17.32

By using the traditional method of calculation, the weekly levels of importance for Fiat Chrysler Automobiles NV (FCAU) are presented as follows:

Central Pivot Point – $17.34
R1 – $17.64
R2 – $17.91
R3 – $18.21
R4 – $18.50

S1 – $17.07
S2 – $16.77
S3 – $16.50
S4 – $16.22