F1: Ferrari (NYSE:RACE) Squad Prepared for the Austrian Grand Prix

F1: Ferrari (NYSE:RACE) Squad Prepared for the Austrian Grand Prix

#Ferrari #Scuderia #Austria # Grand Prix #F1 #cars

$RACE

As part of the protocols introduced due to the C-19 coronavirus, F1 teams have had to cut back on the number of staff members allowed at races.

An overall limit on personnel allowed to work on the car has been replaced with a limit on total team members at the event, the ceiling set at 80 persons.

And in an effort to limit the spread of the disease if a team member is infected, teams like Ferrari (NYSE:RACE) have set up their own social bubbles within their squads with the crews of both cars separated as much as possible.

The complications will make it harder for team members to work closely together, and garage jobs are expected to take a longer time than before.

However, Ferrari management believes that when it comes to pit stops, the Scuderia squads will be just as fast as always.

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 170.65, and Key support is at 166.00.

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 Thursday at 169.62, -0.47 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 healthy week, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge. 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.