Ferrari (RACE)
Updated
In a week of uncertainty, especially on the Nasdaq, which is on a critical point, see the article I posted last week for a more in-depth analysis, Ferrari finally seems to have started its bullish phase, after the long decline that the 'led to a loss of 36% from the beginning of 2021 to the beginning of March.
The price strongly breaks the bearish trendline on Monday, then tries to continue quickly on Tuesday, and then retraces with a two-day pullback.
The stock closed up at € 173.40 yesterday.
My idea about Ferrari in the long term, especially after the post-pandemic economic recovery is clearly Bullish, while in the medium term I believe that the title can easily reach the 178-180 area.
If the uptrend line were to keep and the global situation, also thanks to the summer period, were to improve, as we all hope, the second target is in the 190 area.
LazyBull
The price strongly breaks the bearish trendline on Monday, then tries to continue quickly on Tuesday, and then retraces with a two-day pullback.
The stock closed up at € 173.40 yesterday.
My idea about Ferrari in the long term, especially after the post-pandemic economic recovery is clearly Bullish, while in the medium term I believe that the title can easily reach the 178-180 area.
If the uptrend line were to keep and the global situation, also thanks to the summer period, were to improve, as we all hope, the second target is in the 190 area.
LazyBull
Note
After a not very encouraging Monday, Ferrari is doing well in this short week before Easter.Reached the target I indicated last week in the 178-180 € area. Right after hitting 180, the price retraces, closing Thursday's session at 178.05.
No major changes from analysts, only confirmations on the uptrend.
The current price level is very important because it is the highest volume trading zone of the last 6 months, with a POC at 177.05.
If this support holds and the trend continues, the next medium-long term targets are 183 and 190 €.
Lazy Bull
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