Ferrari’s (NYSE:RACE) Stock Broke Out Marking New 52 Wk Highs
- Ferrari is the world’s #1 Automotive Brand, and a Aristocrat stock.
Ferrari (NYSE:RACE) marked a 52-wk high on the week, and now has 154.86 target or 4.00 % above Friday’s close in New York at 148.90/share.
The chart is Very Bullish and indicates low risk for the $28.09-B iconic Italian automotive company. The 1-year high was reported on 15 June at 149.85.
When the 154.86 price target is reached, the company will be worth $1.12-B more.
The 52-wk high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in, and in Ferrari’s case it happened in a choppy uncertain overall market scenario
During such notable technical setup, fundamental investors are very careful about shorting or selling the stock into a serious break North.
Friday, the stock decreased 0.29% or 0.43 marking 148.9 on 368,180 shares traded. Ferrari has risen 53.08% since 16 June 2017 and is up-trending. It has outperformed the S&P 500 by 40.51% in the frame
Ferrari is scheduled to report earnings on 1 August.
The company expects EPS of 0.88, +11.39 % or 0.09 from last year’s 0.79 figure. If made the company’s profit will be $166.01-M for 42.30 P/E.
Notable recent Ferrari news by Livetradingnews.com which released the following:
“Ferrari(NYSE:RACE) Factory Team to Suzuka 10 Hours Race” on June 08, 2018, also Livetradingnews.com with: “Ferrari (NYSE:RACE) Presents the ‘Ferrari Art Edition’” published on June 07, 2018, Livetradingnews.com published: “Ferrari (NYSE:RACE) World Record Priced 250GTO’s New Owner” on June 12, 2018.
More interesting news about Ferrari by: Livetradingnews.com and their article: “F1: Ferrari (NYSE:RACE) Back on the Streets of Monaco” published on May 24, 2018 as well as Livetradingnews.com‘s news article titled: “Ferrari (NYSE:RACE) Vs Ford at Le Mans” with publication date: June 15, 2018.
Ferrari, through with its subsidiaries, designs, engineers, produces, and sells luxury ultra high performance sports and racing cars.
It is the most prominent name in motorsports, and has participated in an won the most F1 championships in the history of Formula One racing.
The company has market cap of $28.09-B, it has a 42.87 P/E ratio.
The firm offers 7 models, including 4 sports cars that include 488 GTB, 488 Spider, F12berlinetta, and special series F12tfd; and 3 GT cars, which comprise the Portofino, GTC4Lusso, and GTC4Lusso T.
It also built the LaFerrari Aperta, a Limited Edition Supercar; Fuoriserie, a VLE (very limited edition) series; 1-off cars; F60 America, a V12 open air roadster; and Ferrari J50, a 2-seater mid-rear-engined roadster.
Ferrari is the world’s #1 Automotive Brand, and a Aristocrat stock.
|NYSE:RACE||148.9||15 June 2018||-0.43||149.85||149.85||148.25||368,100|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Very Bullish (0.50)||Bullish (0.44)||Bullish (0.49)||Very Bullish (0.58)|
Have a terrific weekend
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