F1: Ferrari (NYSE:RACE) Intends to Appeal Vettel Penalty

F1: Ferrari (NYSE:RACE) Intends to Appeal Vettel Penalty

$RACE

FLASH: Ferrari (NYSE:RACE) lodges intention to appeal Vettel penalty decision.

Ferrari has submitted their intention to appeal against the decision to punish Sebastian Vettel with a 5-second penalty that cost him victory in the Canadian Grand Prix.

Mr. Vettel lost the rear end of his Ferrari, when under pressure from rival Lewis Hamilton, on the approach to Turn 3, causing him to skate across the grass before rejoining in the path of the MercedesAMG.

The stewards deemed he re-joined the track in “an unsafe manner” and “forced Car 44 (Mr. Hamilton) off track” and handed him a 5-sec time penalty, which demoted him to 2nd at the Chequered flag.

Mr. Vettel’s Canada penalty – The Stewards’ decision in full

Mr. Vettel furious with the decision during the balance of the race and afterwards, and Ferrari have decided to inform governing body the FIA that they intend to appeal the decision.

The stewards categorised the offence under Article 38.1 of the Sporting Regulations.

Ferrari now have 96 hrs to gather evidence and decide if they wish to pursue the appeal.

Source: Formula One

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 Bullish to Very Bullish, there is extremely light resistance now at 152.61, and strong support at 149.52, all of our Key indicators are Very Bullish in here.

Have a terrific week.

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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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