F1: Ferrari (NYSE:RACE) Did Not Test in the Snow

F1: Ferrari (NYSE:RACE) Did Not Test in the Snow

F1: Ferrari (NYSE:RACE) Did Not Test in the Snow

$RACE

Wednesday, the 3rd session of Y 2018 pre-season F1 testing started 3 hrs late following overnight snow, and the wintry conditions prevented any meaningful running all day.

Ferrari did not run in the snow.

With the poor weather predicted in advance, some teams began lobbying for a change to the schedule earlier this week.

Matters were complicated by the fact that Williams has a private filming day at the track booked for Friday, and Ferrari (NYSE:RACE) has 1 Saturday.

Next Monday, the day before the start of the 2nd test, was discussed as a possible alternative.

Any change requires the agreement of all 10 F1 Teams, as the FIA sporting regulations note: “The test schedule will be finalized within 21 days of the 1st publication of the championship calendar, changes may only be made after this date with the agreement of all competitors.”

Plus, the FIA rules regarding testing specifically state that no test can be longer than 4 days, stipulating: “2 tests, open to all competitors, of no more than 4 consecutive days’ duration carried out between 1 February and 10 days before the start of the 1st event of the championship.”

Adding an extra day on Monday would extend test 2 to 5 days.

That means even if teams did agree to such a change, the FIA would still have to check with its own legal department that it would be on safe ground if it did ignore its own rules.

In addition the FIA would have preferred to have come to an agreement by Tuesday so that Wednesday’s session could be formally cancelled in advance.

What happened…

Although the cars did not run, in effect the Wednesday test is now deemed to have taken place.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 124.5 28 February 2018 -1.51 126.1 126.5 124.35 407,562
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Neutral (0.16) Neutral (-0.13) Bullish (0.27) Bullish (0.35)

Stay tuned…

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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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