F1 Hungary GP: Ferrari’s Sainz Finished 3rd on Vettel’s Disqualification

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$RACE

Aston Martin’s Sebastian Vettel has lost his 2nd-place finish and been disqualified from the results of the Hungarian Grand Prix after race officials were unable to take the required fuel sample from his car following the race.

Under the technical regulations, competitors must ensure that a 1.0 litre sample of fuel may be taken from the car at any time during the event, however it was only possible to take 0.3 liters from Vettel’s Aston Martin after Sunday’s race.

The decision means that Mercedes’ Lewis Hamilton inherits 2nd place, with Ferrari’s Carlos Sainz classified as the final podium finisher in 3rd.

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

Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari closed Friday at 218.29 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

Key technical indicators are Bullish mid to long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 217.14 and the resistance is light through 220.77. The 28 July Bullish Engulfing candlestick is confirming a return to the Very Bullish trend.

All of our Key technical indicators have turned Very Bullish across the board.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.

UBS is now calling the stock at 365. I have not seen any other Street downgrades.

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

Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 231.99.

The Maranello Outfit’s shares were raised downgraded from Buy to 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 am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

Have a prosperous week, Keep the Faith!

#Bullish#F1#Ferrari#Hungray#Italian#Saintz#Scuderia#stock#Vettel