RACE is about to rise once again
Updated
The 
RACE stock closed the reverse head and shoulders move in early December and was drawn down to the support line, where it crossed the moving average (with some resistance from the sellers as it is seen on the graph that the downside trend has flattered after that cross). There's a support line hovering at $333 but before that 18% growth following the last earnings report, the stock was in a downtrend for a year (noticeably the ups and downs correlated with 
SPY moves). Right now the stock is consolidating, but it could go up lifted by the general market sentiment, especially given that the ISM PMI data print of 47.4 beat the consensus estimate. Set a stop-loss order at $328.
RACE stock closed the reverse head and shoulders move in early December and was drawn down to the support line, where it crossed the moving average (with some resistance from the sellers as it is seen on the graph that the downside trend has flattered after that cross). There's a support line hovering at $333 but before that 18% growth following the last earnings report, the stock was in a downtrend for a year (noticeably the ups and downs correlated with SPY moves). Right now the stock is consolidating, but it could go up lifted by the general market sentiment, especially given that the ISM PMI data print of 47.4 beat the consensus estimate. Set a stop-loss order at $328.Note
The RACE investment would return 26% in less than 2 months. At the moment it's steam has been exhausted, and a correction must take place before arrival of new data. The EV/EBITDA and P/E multiples are record high, and the RSI near 30, all indicate it's better now to cap profits.Trade closed: target reached
Target reached
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