RACE/N trade ideas
Ferrari Won;t do well in a bad economy....ShortTitle says it all, this is an easy one in these conditions.
FerrariCould be misreading this one bc the volume doesn't exactly align with a typical SHS pattern but it looks like a complex version/broadening top.
$RACE Up Trend Line Broke + below 9eMAPost ER Pull $107.27 or bounce to Trend & $121.21 Support 2 $131.76 Fill
Ferrari, very interesting set-upferrari's weekly chart looks quite unsettled: A head and shoulders pattern formed, but on the neckline level I can see a hammer and an inverted hammer. And even this week's candle seems to feel the neckline resistance. What to do then? No fucking idea. Consider a short if it breakes the neckline. But goddamit those two hammers are making me hard and anxious to buy. What do you god forsaken twats think?
FerrariThe Ferrari chart offers good opportunities to get into this stock. Currently at a resistance level for a few days now, pushing of the 100 SMA. A break above 136 is a trigger for a long trade. Alternatively a small risk on shorting the bounce of the resistance, though waiting for it to push lower than 100 SMA would provide better confirmation.
RACE, STO AND RSI CROSS LONGThe Stochastic and RAI values are over bought. The RSI value is coming back above 40 and the stochastic value is crossing above 20 which signals the stock to start moving to the upside.
#RACE #FERRARI LONG IDEA expecting price to retrace once it hit $132, waiting for confirmation to go long once again attempt the LONG ENTRY, multiple targets, long term.
Blue Box, time that can be for the price to consolidate and brake to new highs.
Ferrari speeds up to new highsThe weekly chart reveals some interesting signals.
MACD histrogram slope is rising and macd-signal is crossed.
High volume confirms a strong trend.
Last week a new all-time high was formed, it will be retested.
Fundamental analysis all leads to strong buy, Zacks gives a rating of 2.
Go long !
RACE longPocket pivot today off the 50 SMA. Note 50 SMA support throughout its run. New highs at 118 area.
