F1: Ferrari’s (NYSE:RACE) Leclerc Finishes 2nd at Austria

F1: Ferrari’s (NYSE:RACE) Leclerc Finishes 2nd at Austria

#F1 #Austria #GrandPrix #Ferrari #Leclerc #MercedesAMG #Bottas #McLaren #Norris #BLM

$RACE

MercedesAMG’s Valtteri Bottas led the GP from the start, McLaren’s Lando Norris briefly took 2nd before Max Verstappen retook the place by Turn 3. Lewis Hamilton tried to pass Mr. Albon at Turn 4, could not. Mr. Albon passed Mr. Norris for 3rd when DRS was enabled on Lap 3, and Mr. Hamilton followed suit a lap later at Turn 1. Mr. Hamilton then used DRS to power past Mr. Albon for 3rd on the run to Turn 4 on Lap 9.

Mr. Verstappen was 3s behind Mr Bottas when his car slowed with an electrical problem on the approach to Turn 1 on Lap 12. He toured back to the pits, where Red Bull tried to fix it, could not.

The safety car was deployed on Lap 26 when Haas’s Kevin Magnussen suffered a big spin due to a brake disc failure, just as Esteban Ocon’s Renault was overtaking him at Turn 3. That sent all the leaders into the pits for their tire stops, during which Sergio Perez almost hit Mr. Norris.

At the restart, Carlos Sainz attacked Charles Leclerc for 6th but was clipped by Sebastian Vettel as he tried to take advantage, causing the Ferrari to spin. Mr. Perez blasted past Mr. Norris for 4th on Lap 33.

Both MercedesAMG drivers were warned about sensor issues, and told to stay off the kerbs, due to gearbox concerns.

Romain Grosjean and George Russell both retired with 20 laps to go, the latter causing a second safety car due to being forced to pull off the track. The restart lasted a matter of secs, as Kimi Raikkonen’s Alfa Romeo lost its right-front wheel, bringing out a 3rd safety car.

It left a 10-lap sprint to the finish with the Silver Arrows liveried in Black in support the Maxsists #BLM movement ahead of the fresh-tired Mr. Albon, who attacked Mr. Hamilton, they collided at Turn 4 and Mr. Albon was kicked into a spin through the gravel. Mr. Hamilton was given a 5s penalty for causing the shunt.

Mr. Bottas ran clear to win by 1/2 sec over Mr. Hamilton. But his penalty meant Mr. Leclerc finished 2nd ahead of Mr. Norris, with Mr. Hamilton falling to 4th. Mr.Norris scored the extra point for fastest lap.

F1 Austrian Grand Prix race results

1FinlandValtteri BottasMercedesAMG F1 W11 EQ Power+7125
2MonacoCharles LeclercFerrari SF1000712.70018
3United KingdomLando NorrisMcLaren-Renault MCL35715.49116
4United KingdomLewis HamiltonMercedes F1 W11 EQ Power+715.68912
5SpainCarlos Sainz Jr.McLaren-Renault MCL35718.90310
6MexicoSergio PerezRacing Point-BWT Mercedes RP207115.0928
7FrancePierre GaslyAlphaTauri-Honda AT017116.6826
8FranceEsteban OconRenault R.S.207117.4564
9ItalyAntonio GiovinazziAlfa Romeo Racing-Ferrari C397121.1462
10GermanySebastian VettelFerrari SF10007124.5451
11CanadaNicholas LatifiWilliams-Mercedes FW437131.650
12Russian FederationDaniil KvyatAlphaTauri-Honda AT0169
13ThailandAlex AlbonRed Bull Racing-Honda RB1667
FinlandKimi RaikkonenAlfa Romeo Racing-Ferrari C3953
United KingdomGeorge RussellWilliams-Mercedes FW4349
FranceRomain GrosjeanHaas-Ferrari VF-2049
DenmarkKevin MagnussenHaas-Ferrari VF-2024
CanadaLance StrollRacing Point-BWT Mercedes RP2020
AustraliaDaniel RicciardoRenault R.S.2017
NetherlandsMax VerstappenRed Bull Racing-Honda RB1611

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 175.53, and Key support is at 170.80.

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 172.16, +0.22 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 Including 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.