Today in Motor Racing History: 28 June

Today in Motor Racing History: 28 June

Another day in motor racing at the end of June, there were only F1 Grands Prix on this day over the years.

Dan Gurney’s Brabham BT7 Climax held Graham Hill’s BRM and team boss Jack’s similar Brabham off to win the 1964 French Grand Prix at Rouen.

Mr. Gurney went on to develop the Gurney tab, an aerodynamic solution still used universally on the trailing edges of car bodywork and aerofoils, introduced the full-face helmet to racing and built his own and other F1 and other race cars alongside a most impressive racing CV.

Also in France, Michael Schumacher won the 1998 French Grand Prix at Magny Cours driving a Ferrari F300. Teammate Eddie Irvine was 2nd ahead of Mika Häkkinen’s McLaren-Mercedes as seen in the picture above.

Watch him win it!

Antonio Ascari’s Alfa Romeo P2 was so dominant in the 1925 Belgian Grand Prix, that he could take a leisurely pit stop for a snack and a drink and still return to the track and win at ease at Spa, while Tazio Nuvolari drove and Alfa Romeo 12C-35 to win the 1936 Circuito di Milano at the Parco Sempione. And Nino’ Farina stormed to 1953 Grand Prix de Rouen victory in a Ferrari 500.

$RACE

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 Key resistance 170.65, and Key support is at 166.00.

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

Ferrari (NYSE:RACE) finished Thursday at 169.62, -0.47 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 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.