Fiat Chrysler shares flat at the close in New York on Friday, 228 500 trucks to be recalled due to problematic shifter

According to a statement by Fiat Chryslers US unit on February 16th, about 228 500 trucks in Canada, Mexico and the United States are expected to be recalled due to a shifter issue.

As of 8:43 GMT on Tuesday the shares of Fiat Chrysler were gaining 0.09% (EUR 0.016) on the day to trade at EUR 17.836 on the Milan stock exchange.

In New York, Fiat Chrysler shares were flat at the close on Friday. The stock closed at $22.39, after touching an intraday high at $22.68, or a price level not seen since February 8th ($22.82).

In the week ended on February 18th the shares of the vehicle manufacturer added 4.04% to their market value compared to a week ago, which marked the first gain out of three weeks. It has also been the best performance since the week ended on January 14th.

The stock has retreated 7.36% so far during the current month, following a 35.48% surge in January. The latter has been a second consecutive month of gains.

For the entire past year, the shares of the NYSE-listed auto maker soared 95.61% following a 0.55% dip in 2016.

The brake transmission shift interlock on some vehicles could overheat and lead to a re-positioning of the shifter without brake-pedal application, the unit said.

The overheating issue may occur, when a driver keeps the brake-pedal pressed while the vehicle is idling in “park”.

Fiat Chrysler said it was not aware of any accidents or injuries associated with the issue.

According to CNN Money, the 24 analysts, offering 12-month forecasts regarding Fiat Chrysler’s stock price, have a median target of $25.65, with a high estimate of $38.76 and a low estimate of $11.42. The median estimate is a 14.57% surge compared to the closing price of $22.39 on February 16th.

The same media also reported that 12 out of 26 surveyed investment analysts had rated Fiat Chrysler’s stock as “Hold”, while 10 – as “Buy”. On the other hand, 3 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

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

R1 – $22.43
R2 – $22.47
R3 (Range Resistance – Sell) – $22.51
R4 (Long Breakout) – $22.63
R5 (Breakout Target 1) – $22.76
R6 (Breakout Target 2) – $22.82

S1 – $22.35
S2 – $22.31
S3 (Range Support – Buy) – $22.27
S4 (Short Breakout) – $22.15
S5 (Breakout Target 1) – $22.02
S6 (Breakout Target 2) – $21.96

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 – $22.06
R1 – $23.01
R2 – $23.63
R3 – $24.58
R4 – $25.53

S1 – $21.44
S2 – $20.49
S3 – $19.87
S4 – $19.25