Ferrari long idea by bluepiplong in levels and following price...
my first milan exchange analyze :))
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RACE/N trade ideas
Ferrari updateStock broke the uptrend line, retested it and now retests the green buy zone. Potential to short the break lower and target the first fib level at 38.2%, also 200SMA on daily is catching up to that level.
A buy is possible is price starts to close the gap back up to 160 level, wait for impulsive move higher for confirmation.
Good Luck!
Is the RACE nearly over?Both of these counts call for a decent correction in the short to medium term. However the blue count calls for a deep and protracted correction while the red count suggests that there may still be another leg up. Does anyone know which one it is? (Apologies for my attempt at humour in the title.)
Ferrari update Big banks and investment funds have a divided opinion of this stock, between 'hold' and 'buy'. Their target price ranges below the current one.
Technically, the price made a 3rd touch on the trend line, so it confirmed now. A support zone at 150 is close. If the break happens wait for the support zone to break as well. Currently can look for longs for better risk-reward.
Ferrari seems one of the resilient stocks to global turmoils and recently continues to impress investors with improved financial performance. Good Luck!
Ferrari expected downtrend theory on friday 15th aug.I'm expecting Ferrari stock to enter (longterm?) downtrend on friday the 15th. The marketprice might be overstated for the quarter earnings. It has already entered a short downtrend. After that it stabilizes a little bit. The stabilizing support line is stagnating while the longterm resistant line is falling. The lines will cross on 16th of aug. Thats weekend. So I would expect a fall on 15th of aug.
*sidenote* I just started experimenting with trend lines on charts this day (new to investing). It could be real bullshit what I'm selling, but I don't know. Please let me know what you think of this theory. All critics are welcome.
FERRARI IS IN III MAJOR WAVEIn my opinion Ferrari is in a III major wave. The race is still going. With the logaritmic chart the movements are more clear.
Shorting RACEThis is the perfect stock to short. I`ll do it, till $150. What do you think guys and girls?
WAVE 3 ON GOING WITH TARGET 250€Ferrari is winning is race with this spectacular wave 3 on going. The first Fibonacci target of this wave is around 250€
RACE BREAK THROUGH SHORT TERM SUPPORT TREND LINERACE has tested the resistance zone and broke through the short term (1hr) support trend line. There are signs of weakness from the indicators showing negative divergence. Please note however the long term trend is UP so you would be trading against the major trend.
$RACE Ferrari Unusual Options Activity - $45M Earnings Bet$RACE earnings coming up early May
$45M of May 17th calls traded today deep in-the-money (13k conracts varying strikes vs 3,500 OI)
Will confirm positions in open interest tomorrow
Assuming a solid beat in May, we could see a push for new all time highs early summer
Medium term target - $165 by August
Note - Informational, not investment advice
Ferrari short (RACE)Must be careful here to cut the loss if price breaks up higher than the all time high.
Ferrari (RACE) sell signalFerrari (RACE) D1: Downtrend like from textbook + Horizontal level + Overbought + Hidden Divergence on RSI(14).
Get rid of those FERRARIS!!!!After the monthly being lost i expect continuation down. This trade can turn into being the play of the year with targets as low as 48. I will be shorting this and keeping an eye on it for sure.
Getting Into Gear With Ferrari (RACE)Dear Trader
Investing and trading offshore allows market participants to access industries and sectors not necessarily available on the JSE. Today's trade idea illustrates that with the share being luxury car manufacturer Ferrari NV whose share price has been under pressure since mid-year amid late-CEO Sergio Marchionne stepping down due to health concerns, a quarterly earnings disappointment as well as a generally softer equity market.
At current levels the share is trading at horizontal support with the share price oversold as indicated by the stochastic technical indicator. Additionally we also note the RSI forming a bullish divergence. Today, the Milan-list share has added just over 2.7% which I would expect to follow through to the NYSE-listed share. Based on this, traders could look to take a buy/long position based in anticipation of a short to medium term rebound.
These are the trade levels:
Buy RACE better than $101.60
Stop-loss: $96.40
Take Profit Target(s): $111 and $115
