Reasons why Ferrari shares are as hot as their cars

Some people think that trends can reliably predict the future. If this is true, then the Ferrari Formula 1 team is probably set to face a pretty mundane weekend in Australia. This is due to early trend signals not being hugely great.

Of course, some people that know about this “stuff” predict this weekend is where Ferrari should probably do rather well. On the other hand, Mercedes are not expected to impress.

Ferrari shares are currently trading roughly $109.94 and need only skid below $108.9 to confirm suspicions. Furthermore, $102.6 looks viable. A movement such as this is predicted to trigger a further crash according to the direction of $93.17.

To against the suggestion, the shares price requires better than $115.88, and so there’s a limited amount of hope for those who think they will watch the red team race into the sunset.

However, yes there’s a “however”.

If we compare this to the last major manipulation against Ferrari at the beginning of May, any reversal down to the $93 level is liable to bounce from the trend line as there’s a good chance the share price may gather momentum. If it does, it may surge above its all-time high at $118.

Therefore, above $115.88 may start a trend to $129 next initially. Although realistically we could hope of $142 in the future, that is if the team manages not to mess up their chances.

If triggered, the stop could be $122. Chasing trade like this only becomes thinkable, should Ferrari better $188 again. Thus being an entry point higher than before, and being the safest option.

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Written by Abi Moses


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