Fiat Chrysler is backing down from plans to expand into Mexico which is protectionist and against Economic theory of the lowest cost producer providing a pareto optimum solution. Fiat Chrysler may lose pricing power against competitors and lose market share which is detrimental to shareholder value and the stock is now a short candidate.
Also, technically speaking, a new 52-Week high was established today with ONLY 80% of the Average Moving Volume. This is a weak signal.
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