F1: Ferrari (NYSE:RACE) to Bring SF1000 Updates Nurburgring

#Ferrari #F1 #SF1000 #EifelGrandPrix #Nurburgring

$RACE

Ferrari (NYSE:RACE) is set to bring further updates for its SF1000 F1 racecar to the Eifel Grand Prix at the Nurburgring next weekend.

Team Boss Mattia Binotto updates would be brought to the Nurburgring, and attention would shift to improving the diffuser on the SF1000.

Let’s hope that we found some competitiveness again that gives the opportunity to the drivers to at least compete for a better position in the future,” he said.

Ferrari is in 6th place in the constructors’ championship this year after a difficult start to the season that has seen its form decline dramatically from last year.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is overall Bullish, the Key resistance is 199.16, Key support is at 178.06.

Our overall technical outlook is still Bullish, my long term Fibo number, a Key indicator is Very Bullish.

Ferrari finished Wednesday at 184.09, +1.74 in NY, and is trading at 185.09 pre-market in NY. It’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term.

Thursday, 13 August I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term ATV and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector.

Have a healthy day, Keep the Faith!

 

#Binotto#Eifel#F1#Ferrari#Grand Prix#investment#investors#Italian#luxury#Nurburgring#race#resistance#SF1000#stock#support#value