F1: Ferrari’s (NYSE:RACE) Binotto Optimistic for the Rest of the Season

F1: Ferrari’s (NYSE:RACE) Binotto Optimistic for the Rest of the Season

$RACE

Ferrari (NYSE:RACE) is winless in Y 2019, but Team Principal Mattia Binotto is focused on the positives after a German Grand Prix that began with disaster and ended in a celebration.

After both Sebastian Vettel and Charles Leclerc were out of Qualifying runs with mechanical issues, it looked like another grim weekend for Ferrari this season.

Mr. Vettel was penalized from the lead in Canada, Mr. Leclerc overtaken on the penultimate lap in Austria and then crashed out of contention again in Germany.

But Mr. Binotto maintains that this run of races has been cause for optimism.

Look at the past 5 races,” he said. “I think on average we have been good enough, which gives us at least an optimistic mood for the rest of the season. We are still looking for the 1st victory and hopefully it will come soon.”

At Hockenheimring: 20th (last) on the grid and 2nd at the finish, Mr. Vettel capped off a brilliant comeback and Mr. Binotto praised his driver, who is now just 43 pts behind Valtteri Bottas in the standings.

Sebastian Vettel turned the tide in the wet at Hockenheimring after a disastrous British Grand Prix where he crashed into Max Verstappen, and a tough Austrian round in which he settled for P4 after another qualifying setback.

It was a very crazy, chaotic race,” remarked Mr. Binotto. “We are very happy for Seb. I think it was important for him to have a good weekend here. Starting at the back of the field, what he achieved – it’s certainly a good boost for him. He was very happy on the podium, we were very happy for him and it will help him in the next races.”

Ferrari, 148 pts behind MercedesAMG in the constructors’ championship, also needed the boost. Now, it is a matter of fixing the Qualifying problems that put Mr. Vettel last on the grid and Mr. Leclerc 10th.

“I think I cannot say that our qualifying issues are sorted because next time it will happen,” joked Mr. Binotto. “Certainly what happened [in qualifying] really for us was completely unexpected, it was not problems we knew from dynos, benches or past races, so fully unexpected.

It was Quite a shame, especially that happening on a weekend where you know that somehow you could have been strong and I think the car has been strong on Friday in the hot conditions, in the cool today, in the dry, in the wet, I think that’s the up of the weekend. The positive is the car behavior on such a track, the negative… the problem we had yesterday, how we fix that for the future – we need only to work on that.”

With regards to Mr. Leclerc’s retirement, a crash that occurred in the tricky final pair of corners that were dubbed the ‘skating rink.”

“In that part of the circuit it’s very difficult to slow down the car so as soon as you do a mistake there there is no chance to recover. He is disappointed because of the mistake, disappointed because he had nothing to recover; that’s part of the sport.

As the teams head to Hungary, Ferrari will hope to build on their solid record at the Hungaroring, a circuit on which Ferrari have won 7X, and 2X with Mr. Vettel. Perhaps his home race recovery will be the catalyst for a resurgence…we will see…let’s go racing.

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 Neutral to Bullish, overhead resistance is at 163.87, and support at 158.75, all Key indicators are flashing Bearish in here. Ferrari finished at 163.00, +1.92 Thursday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.

The final race before the mid-season break is this weekend, with the F1 circus moving to the Hungarian Grand Prix, tune in.

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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