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F1: Ferrari will be “back to reality” at the French GP


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Charles Leclerc has taken Pole position in Monaco and Baku as Ferrari (NYSE:RACE) enjoyed a welcomed upturn in performance.

Ferrari has performed well in the low-speed corners throughout the season, the the Paul Ricard Circuit consists of predominantly medium-speed corners.

Mr. Leclerc expects Ferrari to “struggle” relatively to the prior 2 races.

I think it will be a bit back to reality,” Mr. Leclerc said. “That’s been two weekends, in Monaco we didn’t expect to be as competitive, in Baku we definitely didn’t expect it and we expected to be back to reality in Baku but actually I feel like this weekend is unfortunately will be the weekend where we will be back to reality and we will be struggling a bit more compared to the last two weekend.

There is a bit more medium speed corners there, it’s a bit more of a normal track. I expect to struggle a bit more this weekend.

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

Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari closed Thursday at 200.92 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

Key technical indicators are Bearish in here but Bullish long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 200.00 and the Key resistance is at 209.06. The 16 June Doji candlestick augurs a return to the Very Bullish trend.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.

UBS is now calling the stock at 365. Citi downgraded the stock from Neutral to sell. I have not seen any other Street downgrades.

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, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 231.99.

The Maranello Outfit’s shares were raised downgraded from Buy to 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 am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

What time is the 2021 French Grand Prix and how can I watch it? Click here.

Have a Super racing weekend, Keep the Faith!

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