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Ferrari (NYSE:RACE) at LeMans Results

#LeMans #Ferrari

$RACE

The GTE results

In Le Mans GTE Pro, Aston Martin Racing out ran the field much as Toyota Gazoo did finishing 1st and 3rd in the Vantage, bracketing the AF Corse Ferrari 488 GTE Evo No. 51, with the No. 82 U.S.-based Risi Ferrari in 4th.

In Le Mans GTE Am, Aston Martin’s Vantage was victorious, with the No. 90 TF Sport team taking the win, ahead of the No. 77 Dempsey Proton Racing Porsche 911 RSR. The No. 83 AF Corse Ferrari finished 3rd

It was a rough night for 2 of the  American-led teams: Texas auto dealer Ben Keating’s No. 57 Project 1 Porsche 911 RSR crashed into a spinning LMP2 car in hour 5, relegating the repaired car back to 14th in class. In GTE Pro: the Cooper MacNeil and the WeatherTech No. 63 Ferrari were involved in a collision with a different P2 car, with the car retired to the pits in 8th and last place in the standings.

Next up for the World Endurance Championship series: The season finale in Bahrain in November.

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 Very Bullish, the Key resistance is 190.84, Key support is at 185.39.

Our overall technical outlook is still Bullish with a Very Bullish bias in here, my Key indicator is Very Bullish, the stock is very oversold.

Ferrari finished Friday at 182.92, -2.22 in NY it’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term, then…

Thursday, 13 August I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

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 ATV and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector.

The Russian GP is this weekend, tune in,

Have a healthy week, Keep the Faith!

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 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.   

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