Ferrari (NYSE:RACE) Challenge Europe, North America Restarts in July

Ferrari (NYSE:RACE) Challenge Europe, North America Restarts in July

$RACE

Ferrari Challenge Europe. The European series has reformulated its calendar to maintain the same number of races as originally scheduled.

The season will open in Imola, where the brand new 488 Challenge Evos will take to the track at the Enzo and Dino Ferrari circuit over the weekend of 4-5 July. The Ferrari Challenge will then move to Barcelona in Spain, where rounds 3 and 4 will be held 2 wks later.

Portimao in Portugal will host Round 3 on 1 and 2 August, ahead of the Ferrari Racing Days at Mugello from the 28th to the 30th. After that it’s the turn of the Ferrari Racing Days at Spa-Francorchamps, from 11 to 13 September.

The return to Italy, at the Misano Adriatico circuit on 26 and 27 September, will be the last outing before the Finali Mondiali in Abu Dhabi from 4 to 7 November.

A special protocol will be used to ensure the safety of everyone involved. All events will take place behind closed doors, including the press.

The organisers are continuing to work closely with the local authorities and are prepared to adapt the safety measures to changing circumstances.

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 resistance Nil, and Key support is at 174.16.

Our overall technical outlook is Very Bullish in here, as all Key indicators are Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.

Ferrari (NYSE:RACE) finished Wednesday at 176.19, +4.98 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 day, 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.   

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