Both Ferraris collided at Turn 3 causing an immediate safety car to allow the Marshals to clear the track of debris.
Sebastian Vettel drove into the pits with no rear wing, while Charles Leclerc who initiated the contact by lunging up the inside needed a fresh front wing.
Mr. Vettel’s car was retired immediately, while a sorrowful Mr. Leclerc continued with floor damage, he retired 2 laps on.
HeffX-LTN overall technical outlook for RACE is overall Very Bullish, the resistance is Nil, and Strong Support is at 175.52.
Our overall technical outlook is Bullish in here, as all Key indicators are Very Bullish.
Ferrari (NYSE:RACE) finished Friday at 179.0, +1.44 in NY, just shy of its intra-day all time highs at 180.36 marked on 19 February 2020.
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 (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.
