Ferrari pinned between two levels
Ferrari slips 3.3%, pinned between support and resistance ahead of earnings
Ferrari pinned between two levels
Our view last week
Ferrari stock remains squeezed into a very tight band between its 50-week average and the daily pivot average, in the 329-331 area, with the weekly candle showing early signs of fatigue and sellers slightly ahead. The buy signal is still just in its 5th week, with 2 of the 3 targets from our most advanced model already hit and the trade up 7.17%. This week's technical analysis also flags the earnings date, due in about 2 weeks, as one to watch.
This week's summary
Ferrari's week closes down 3.3%, with three caution flags: contracting volumes, a fading candle body, and sellers slightly ahead on the last bar. The Ferrari stock stays boxed between the resistance of its 200-day average (the 323.6 area) and the support of the daily lower Bollinger Band (the 316.9 area), just as earnings land this week. The buy signal is in its 6th week, in profit since entry.
IQS Phase
50
ordinary
Signal Strength
44
medium · weak
Sizing
REDUCED
Ranking
#39 / 59
EU-UK stocks in progress
Trade P&L %
+3.68%
from signal to today
Rank position
ranks 39th among the 59 Longs already running for European-UK stocks in our ranking, with a signal strength of 44 out of 100.
Sector context
SectorItalian
Benchmark ETFEXHG
Sector regimeweak phase
Performanceweekly -2.23% · monthly -0.78%
RACE belongs to the italian sector (reference ETF EXHG). The sector is classified weak phase according to our weekly reading.
restricted Platinum content