Ferrari Rising Wedge in Long Term
When we look at the Ferrari graph on an annual basis, we see a rising wedge. Generally, assuming the wedge has broken downwards, the next target will be the $150 level. If we need to support this technical analysis with fundamental analysis, it is striking that especially the PEG ratio is too high. As long as the wedge doesn't break higher ($218), I will keep the $150 level as a target. When it reaches the $150 level, I will analyze the target again on my page for a buying opportunity.
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