We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
I keep an eye on Ferrari (RACE - Free Report) stock all the time. Since it took that tumble last earnings report, I’ve been waiting for it to fill the gap down. It’s made that move and since, has come under pressure for the last three days. News flow has been light, making this a technical move over anything. Now I’m seeing a test of the 50-day moving average that looks to be failing.
Should it continue to fail, which I think is in the cards here, the horizontal, zero sloped 200-day is the next line of potential support. The stock managed to bounce there in mid-June during its turndown. That led to another move over $500. I think a more likely scenario here is a retest of the post-earnings lows, and lower. Rates are still too high, residual values are tanking as too many new products are offered, and MSRPs on new models are through the roof. It’s a sugar high I believe ends poorly.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Ferrari’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Can the SF90 Replacement Rev Ferrari Stock?
I keep an eye on Ferrari (RACE - Free Report) stock all the time. Since it took that tumble last earnings report, I’ve been waiting for it to fill the gap down. It’s made that move and since, has come under pressure for the last three days. News flow has been light, making this a technical move over anything. Now I’m seeing a test of the 50-day moving average that looks to be failing.
Should it continue to fail, which I think is in the cards here, the horizontal, zero sloped 200-day is the next line of potential support. The stock managed to bounce there in mid-June during its turndown. That led to another move over $500. I think a more likely scenario here is a retest of the post-earnings lows, and lower. Rates are still too high, residual values are tanking as too many new products are offered, and MSRPs on new models are through the roof. It’s a sugar high I believe ends poorly.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Ferrari’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.