Ferrari (NYSE:RACE) Stock Marks All-time Highs on Light Volume

Ferrari (NYSE:RACE) Stock Marks All-time Highs on Light Volume

#Ferrari #stock #Aristocrat

$RACE

Ferrari (NYSE:RACE) marked a closing all-time high Monday at 180.79, after marking an intraday high at 181.415 on the day. Ferrari’s market cap is $44.33-B and trades at 40.31 EPS, it pays a dividend of 0.69%.

There is more Northside ahead, all Key technical indicators are flashing Very Bullish in here.

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 resistance is Nil, and Strong Support is at 176.02.

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

Ferrari finished at 180.79, +3.23 Monday in NY, just shy of its intraday all time highs at 181.415 marked on 20 July 2020.

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.