Ferrari (RACE) Stop Profit

A very tight stop in this period, thanks to Biden’s declarations on the taxation of capital gains, the pandemic that shows no sign of abating, despite the arrival of summer (we hope that this summer and the vaccination campaign, definitively remove this damned virus).

The Italian market, where Ferrari is listed, reflects a lot the American one in the afternoon (15:30 coincides with the opening of Wall Street) and punctually on the day of April 20, the price retraces going to take my stop anyway at a profit (173 €)

Ferrari’s lateral phase in area 180 was largely predictable and reported in my previous articles, but I believed it wouldn’t last that long and that the price would hold the supporting trendline, which it did until April 16th.

After that, the stop profit is a strategy obligation.

The price then restarted, so the targets remain the same, but the volumes are not convincing, as they did not before.

Area 173-170, on the other hand, is the first possible level for a buyback, although I don’t think I will enter any time soon.

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Lazy Bull

DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

Lazy Bull
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