Ferrari (NYSE:RACE) Challenge North America to COTA

Ferrari (NYSE:RACE) Challenge North America to COTA

#Ferrari #Challenge #CODA

$RACE

After an action-packed weekend at Indianapolis, the series is ready to return with a full field of Ferrari 488 Challenge Evo cars.

Strong grids have been a hallmark of the Ferrari Challenge series in North America.

This weekend’s round at Circuit of the Americas (CODA) is no different where the entry list spans nearly 40 cars once more.  

The largest category within the series is the Coppa Shell AM category where 20 cars will compete for a spot on the podium. 

For some in the category, this is their 1st full season of competition, and the full grid means that no matter their pace or experience, there will be an on-track battle to enjoy. 

The Ferrari Challenge series will kick off with testing days on Wednesday and Thursday before official practice sessions begin Friday. 

As the series makes its way into 2-H of the 7-round calendar, drivers will begin to look more seriously at the championship implications. 

In Trofeo Pirelli, Cooper MacNeil seems to have a comfortable lead, though schedule conflicts will mean that the highly experienced driver will miss at least 1 race, sacrificing up to 15 pts to his championship rivals. 

Meanwhile, Jay Schreibman and Jim Booth are separated by a pt in the Coppa Shell category with Kevan Millstein closing fast after an excellent weekend in Indianapolis where he won both races. 

These will be storylines to watch as the weekend unfolds at the Circuit of the Americas.

Qualifying action will begin on Saturday at 3:30pm (all times local) before racing action begins at 8:20pm with the final flag falling at 9:50pm. 

On Sunday, the action is stacked into the morning as qualifying begins at 10:45am and ending at 12:00pm.  Racing action will begin at 12:35 and the final race of the weekend will conclude at 2:05pm.

In addition to being carried live on live.ferrari.com and motorsport.tv, CBS Sports will feature a 1-hr highlights package of the weekend’s action to air on 6 September at 6pm EDT and again at 8pm PDT.  Check your local listings for channel information.

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 195.15, Strong Support is at 187.84.

Our overall technical outlook is Very Bullish in here, as all Key indicators are Very Bullish.

Ferrari finished at 195.51, -3.78 Thursday in NY, just off of its all time high 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.

Have a healthy weekend, 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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