F1: Ferrari (NYSE:RACE) Hopes to Celebrate it 1000th GP at Mugello

F1: Ferrari (NYSE:RACE) Hopes to Celebrate it 1000th GP at Mugello

#Ferrari #F1 #RACE #GrandPrix #Scuderia #Mugello #Italy #SF100

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Ferrari (NYSE:RACE) wishes to host and celebrate their 1,000th F1 race at the team’s Mugello circuit a week after this year’s Italian Grand Prix, team boss Mattia Binotto said Friday.

Speaking during a news conference at the season-opening Austrian Grand Prix, Boss Binotto said the plan is for an exciting race and a great event.

Ferrari owns Mugello and use it as their private test track.

Our hope is to try and bring F1 to Mugello,” said Boss Binotto.

We believe it is a great circuit not only on the sustainable side, but for the drivers, it is very demanding. I think it’s a great one.

“I think it can be an exciting race there and being potentially our 1,000th race, and doing it in Italy, and at Mugello, our own race circuit, that will be great.”

F1 has confirmed just 8 races of a championship calendar since the easing of lockdown across Europe following the C-19 chaos.

Organisers hope to add another 7 or more races including Mugello and Portugal’s Portimao circuit.

This year’s Italian Grand Prix in September is scheduled to be the 8 this year and Ferrari’s 999th Grand Prix.

The prospect of Mugello as the 9th is not confirmed.

It would be great if we had some fans there, but at the moment we cannot confirm anything,” added Boss Binotto.

If it happens, we will try to organise a great show.

Ferrari are Formula One’s oldest and most famous team and also the most successful, having taken part in every championship season since Y 1950.

This year’s racer is the SF1000.

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 with a Very Bullish bias, the Key resistance 175.53, and Key support is at 170.65.

Our overall technical outlook is Bullish in here, as all Key indicators are Bullish to Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.

Ferrari (NYSE:RACE) finished Wednesday at 171.94, +0.93 in NY just shy of its all time highs.

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.

Have a Happy Star Spangled Weekend, 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.