F1: Ferrari (NYSE:RACE) at the Portuguese Grand Prix (Video)

F1: Ferrari (NYSE:RACE) at the Portuguese Grand Prix  (Video)

#F1 #Ferrari #GrandPrix #Portugal #FIA

$RACE

Following a day on which over 120 times were deleted, the FIA has eased the rules on track limits for the Portuguese Grand Prix.

Over the course of Friday’s 2 sessions, drivers had their times deleted no less than 125 times for exceeding the track limits – 65 times in FP1 and 60 in the 2nd session.

While race director, Michael Masi had initially warned drivers on exceeding the track limits at the exit of Turns 1 and 4, he subsequently added Turn 15 to the list.

Each time any car fails to negotiate the Turn 1 exit, Turn 4 exit or Turn 15 exit by using the track, their team will be informed via the official messaging system,” he warned. “On the 3rd occasion of a driver failing to negotiate any of the 3 exits using the track during the race, he will be shown a black and white flag, and any further cutting will then be reported to the stewards.”

In the latest update to the race directors notes, Mr. Masi warns that “a lap time achieved during any practice session or the race by leaving the track and cutting behind the red and white kerb on the exit of Turn 1 or Turn 4 will result in that lap time being invalidated by the stewards.”

On the 3rd occasion of a driver failing to negotiate any of the 3 exits using the track during the race, he will be shown a black and white flag, and any further cutting will then be reported to the stewards.

The Portugal Grand Prix Preview

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 at 191.87, there is Strong support is at 185.91.

Our overall technical outlook is Bullish with a Very Bullish bias, a Key indicators are flashing Very Bullish long-term.

Ferrari finished Friday at 189.87, -0.13 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, Morgan Stanley and Bank of America.

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, 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.

There is F1 racing this weekend in Portugal, tune in for qualifying Saturday.

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Have a healthy weekend, enjoy the racing and Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it 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.   

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