Ferrari N.V. Stock Forecast
Evaluation of Ferrari N.V. stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Ferrari N.V. stock price fell by -1.12% on the last day (Friday, 19th Apr 2024) from 391.60€ to 387.20€. During the last trading day the stock fluctuated 2.24% from a day low at 383.90€ to a day high of 392.50€. The price has been going up and down for this period, and there has been a -0.08% loss for the last 2 weeks. Volume has increased on the last day by 110 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, 327 thousand shares were bought and sold for approximately 126.71€ million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 380.42€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.44% during the next 3 months and, with a 90% probability hold a price between 465.77€ and 520.41€ at the end of this 3-month period.
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RACE.MI Signals & Forecast
There are few to no technical positive signals at the moment. The Ferrari N.V. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 389.16€ and 390.97€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -4.68%. 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.
Support, Risk & Stop-loss for Ferrari N.V. stock
On the downside, the stock finds support just below today's level from accumulated volume at 355.50€ and 353.50€. 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 N.V. finds support just below today's level at 355.50€. If this is broken, then the next support from accumulated volume will be at 353.50€ and 347.50€.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 8.60€ between high and low, or 2.24%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RACE.MI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ferrari N.V. to open at 387.87€, and during the day (based on 14 day Average True Range), to move between 379.41€ and 394.99€, which gives a possible trading interval of +/-7.79€ (+/-2.01%) up or down from last closing price. If Ferrari N.V. takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 388.20€ (0.26%) than the support at 355.50€ (8.19%), 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 N.V. stock A Buy?
The Ferrari N.V. stock holds several negative signals and despite the positive trend, we believe Ferrari N.V. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.327 Sell Candidate Downgraded
Predicted Opening Price for Ferrari N.V. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| 387.87€ ( 0.172%) | 387.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RACE.MI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 396.47 | 2.39 % | |
| R2 | 393.18 | 1.54 % | ||
| R1 | 391.15 | 1.02 % | ||
| Current price: | 387.20 | |||
| Support | S1 | 384.58 | -0.676 % | |
| S2 | 382.55 | -1.20 % | ||
| S3 | 379.27 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 399.20 | 3.10 % | |
| R2 | 389.90 | 0.697 % | ||
| R1 | 388.20 | 0.258 % | ||
| Current price | 387.20 | |||
| Support | S1 | 355.50 | -8.19% | |
| S2 | 353.50 | -8.70% | ||
| S3 | 347.50 | -10.25% |
RACE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 22, 2024 | 0€ | 0% |
| 2 | Apr 24, 2023 | Apr 24, 2023 | Apr 24, 2023 | 1.81€ | 0.711% |
| 3 | Apr 19, 2022 | Apr 19, 2022 | Apr 19, 2022 | 1.36€ | 0.662% |
| 4 | Apr 19, 2021 | Apr 19, 2021 | Apr 19, 2021 | 0.87€ | 0.495% |
| 5 | Apr 20, 2020 | Apr 20, 2020 | Apr 20, 2020 | 1.13€ | 0.776% |
FAQ
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