Today I opened a long position in $STLAM (+0.62%) and added it to my portfolio.
The stock is currently trading below the 78,6 % Fibonacci retracement level, a deep retracement zone that fits my investment framework and offers an attractive risk-to-reward profile from my perspective.
Stellantis is one of the world's largest automotive manufacturers, with a portfolio of well-known brands including Jeep, Peugeot, Fiat, Ram, Opel, Citroën, and Maserati.
The automotive sector is undoubtedly cyclical and faces its share of challenges, but that's often where opportunities can emerge when market sentiment becomes overly pessimistic. From current levels, I believe the risk-reward setup is worth exploring within my strategy.
I'm looking forward to seeing how this position performs over the coming months and years.
#trading
#long
#bluechipstocks
#bluechipfibonacci#stellantis
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#automotive#netherlands
#mikeupegui
