Ferrari NV Stock Forecast
Red day on Thursday for Ferrari NV stock after losing 0.733%
(Updated on Mar 28, 2024)
The Ferrari NV stock price fell by -0.733% on the last day (Thursday, 28th Mar 2024) from $439.16 to $435.94. During the last trading day the stock fluctuated 0.716% from a day low at $435.56 to a day high of $438.68. The price has risen in 7 of the last 10 days and is up by 3.7% over the past 2 weeks. Volume has increased on the last day by 45 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 174 thousand shares were bought and sold for approximately $75.67 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 36.78% during the next 3 months and, with a 90% probability hold a price between $577.55 and $613.02 at the end of this 3-month period.
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RACE Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Ferrari NV stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $435.89 and $415.49. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Ferrari NV stock
On the downside, the stock finds support just below today's level from accumulated volume at $389.45 and $379.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ferrari NV finds support just below today's level at $389.45. If this is broken, then the next support from accumulated volume will be at $379.25 and $349.41.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.12 (0.716%) between high and low. For the last week, the stock has had daily average volatility of 0.91%.
Our recommended stop-loss: $422.85 (-3.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (RACE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ferrari NV to open at $436.73, and during the day (based on 14 day Average True Range), to move between $429.63 and $442.25, which gives a possible trading interval of +/-$6.31 (+/-1.45%) up or down from last closing price. If Ferrari NV takes out the full calculated possible swing range there will be an estimated 2.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $437.97 (0.47%) than the support at $389.45 (10.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ferrari NV stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ferrari NV stock to perform well in the short-term.
Current score: 2.670 Buy Candidate Unchanged
Predicted Opening Price for Ferrari NV of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$436.73 ( 0.180%) | $435.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RACE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 439.85 | 0.90 % | |
R2 | 438.65 | 0.623 % | ||
R1 | 437.92 | 0.454 % | ||
Current price: | 435.94 | |||
Support | S1 | 435.53 | -0.0929 % | |
S2 | 434.80 | -0.262 % | ||
S3 | 433.61 | -0.535 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 439.59 | 0.84 % | |
R2 | 439.16 | 0.739 % | ||
R1 | 437.97 | 0.466 % | ||
Current price | 435.94 | |||
Support | S1 | 389.45 | -10.66% | |
S2 | 379.25 | -13.00% | ||
S3 | 349.41 | -19.85% |
RACE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 22, 2024 | Apr 22, 2024 | May 03, 2024 | $0 | 0% |
2 | Feb 24, 2023 | Apr 24, 2023 | May 05, 2023 | $1.99 | 0.670% |
3 | Apr 14, 2022 | Apr 19, 2022 | May 06, 2022 | $1.47 | 0.742% |
4 | Apr 16, 2021 | Apr 19, 2021 | May 05, 2021 | $1.04 | 0.511% |
5 | Apr 17, 2020 | Apr 20, 2020 | May 05, 2020 | $1.23 | 0.788% |
FAQ
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