#Gold #SP500 A surprising number of folk remain interested in the prancing horse, despite their 2020 Formula 1 performance being measured in pantomime ponies. We last reviewed #Ferrari over a year ago (link) we’d given 193 dollars as a pretty important point of interest. Despite this price level assuming a degree of importance during August & September and even closing slightly above our Big Picture target, we’re starting to get a little nervous.
Ferrari in New York are presently trading around 184 dollars and we can identify below 171 as being a point where some sort of short position should be justified, once with a stop loss placed at 186 dollars. Below 171 dollars risks triggering reversals to an initial 157 dollars with secondary, if broken, a rather less pleasing 130 dollars, though perhaps meritorious of the companies pace in F1. To put it into perspective, if the new Top Gears (surprisingly watchable) Paddy McGuiness was on the F1 grid, there’d be a reasonable chance he’d finish before Ferrari due to their reliability.
Of course, this state of affairs perhaps means the company are focussed on their road cars this year!
Despite luxury cruise ships queuing to be broken up for scrap metal value in Turkey, we rather doubt the luxury car market faces similar fate. Apparently the pandemic has been financially kind to the super-rich, making it pretty certain Ferrari are still tackling a never ending waiting list. This being the case, above 189 dollars promises a change in fate for the share price as we’re looking for recovery again to an initial 192 dollars with secondary, if exceeded, calculating at 208 dollars and yet another all time high. This is liable to prove significant, threatening a longer term attraction from 225 dollars.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
12/10/2020 FTSE Closed at 6001 points. Change of -0.25%. Total value traded through LSE was: £ 3,801,443,086 a change of -34.7%
9/10/2020 FTSE Closed at 6016 points. Change of 0.64%. Total value traded through LSE was: £ 5,821,685,817 a change of 29.2%
8/10/2020 FTSE Closed at 5978 points. Change of 0.54%. Total value traded through LSE was: £ 4,506,090,091 a change of -9.79%
7/10/2020 FTSE Closed at 5946 points. Change of -0.05%. Total value traded through LSE was: £ 4,994,944,768 a change of 3.84%
6/10/2020 FTSE Closed at 5949 points. Change of 0.12%. Total value traded through LSE was: £ 4,810,400,259 a change of 20.66%
5/10/2020 FTSE Closed at 5942 points. Change of 0.68%. Total value traded through LSE was: £ 3,986,790,747 a change of -6.97%
2/10/2020 FTSE Closed at 5902 points. Change of 0.39%. Total value traded through LSE was: £ 4,285,372,497 a change of -12.92%
This post has already been read 46 times!