Home 2020 Ferrari (NYSE:RACE) is Not Your Average Carmaker

Ferrari (NYSE:RACE) is Not Your Average Carmaker

$RACE

Shares of the high-end automaker Ferrari (NYSE:RACE) broke out last week and raced higher, putting the pedal to the floor with a 1.74% gainer on strong volume Monday, ahead of Wall Street’s earnings estimates. The stock’s 52 wk trading range is 108.84 – 174.52

Monday’s stock-price action adds to the incredible Y 2019 enjoyed by Ferrari investors. Shares are easily outpacing the gains of all other car makers and the DJIA.

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 Bullish to Very Bullish, overhead resistance is None, and Key support is solid at 167.82, 3 of our Key indicators are now Bullish, and the stock has established strong long term support ahead of this coming breakout North.

Ferrari broke out and finished at 174.29, +2.98 Monday in NY.

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

Have a terrific week.

AristocratcourtFerrarifrenchinvestmentluxurymoneyproductsracesalevalue

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.