F1: Ferrari (NYSE:RACE) at the French Grand Prix

F1: Ferrari (NYSE:RACE) at the French Grand Prix

$RACE

FLASH: Ferrari Denied Review of Controversial Penalty That Undid Its Canadian Grand Prix Win

Ferrari (NYSE:RACE) primed to win at France GP this weekend.

The FIA-appointed stewards held a hearing for Ferrari’s request to review the penalty given to Sebastian Vettel at the Canadian Grand Prix that cost him the race win. The team was represented at the hearing by sporting director Laurent Mekies, who said there was “overwhelming” new evidence proving Mr. Vettel had not breached the regulations.

But, true to FIA form, the case was quickly thrown out by the stewards in less than 2 hours. The new evidence presented by Ferrari was Mr. Vettel’s face camera released by FOM after the race, and Sky Sports pundit Karun Chandhok’s analysis on TV after the race. As a result, the penalty and the result in Canada stand.

Mr. Vettel was disappointed with the ruling, saying he hoped F1 “just burn the papers” of the rule-book to cut down on over-regulation.

Ferrari chief Mattia Binotto said: “We are disappointed certainly for Ferrari, but we are also disappointed for our fans and for our sport.”

The Scuderia offered no further comment.

On the Track Friday

MercedesAMG ran clear in both FP1 and FP2 as Lewis Hamilton and Valtteri Bottas took turns to lead the standings throughout practice. Over both one-lap pace and the long runs, MercedesAMG appeared to have an edge over its main rival, Ferrari, with Red Bull lagging further behind as the 3rd-fastest team.

Red Bull could not technically claim to even be that come the end of FP2 as Lando Norris finished an impressive P5 for McLaren, trailing only the MercedesAMG and Ferrari drivers. Mr. Norris said he was “surprised” by the team’s pace which put it head and shoulders clear of the rest of the midfield Friday.

Mr.Hamilton was investigated by the stewards for returning to the track in an unsafe manner after spinning in FP2, forcing Max Verstappen to take evasive action. No sanction was handed down.

Team Haas drivers Kevin Magnussen and Romain Grosjean had wildly different days at Paul Ricard, with Mr. Grosjean taking the brunt of the team’s issues. A water leak limited him to 9 laps in FP1 before tire and balance issues marred his FP2 running, Mr. Grosjean called it his worst Friday of the year so far. Mr. Magnussen was happier with his running after ending up P10 in FP2.

Following Friday’s drivers’ briefing, all stayed on for a GPDA meeting led by Alexander Wurz following their representation at the FIA meeting regarding plans for Y 2021 last week.

The 1st F1 on-track action tomorrow is at 12 Noon Local Time

Ferrari is the Aristocrat of the automotive sector.

The 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 Very Bullish, there no overhead resistance now, and support at 159.19, all Key indicators are Very Bullish in here. Ferrari finished at 162.21 + 1.05, or 0.35% on the day in NY Friday.

There is F1 racing this weekend, the French Grand Prix race

The Schedule

SATURDAY, 22 JUNE
— F1 FP3, Le Castellet, France; 5:55a, ESPN2 (L) 

— F1 Qualifying, Le Castellet, France; 8:55a, ESPN2 (L) 

SUNDAY, 23 JUNE

— F1 French Grand Prix, Le Castellet, France; 9a, ESPN (L) 

— F1 French Grand Prix, Le Castellet, France; 7p, ESPNEWS (S) 

— F1 French Grand Prix, Le Castellet, France; 10p, ESPN2 (S)

Tune and enjoy the racing this weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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