Ferrari NV Stock Forecast
Stronger technical forecast for Ferrari NV stock price after Friday trading.
(Updated on Apr 26, 2024)
The Ferrari NV stock price gained 2.49% on the last trading day (Friday, 26th Apr 2024), rising from $412.21 to $422.46. During the last trading day the stock fluctuated 1.44% from a day low at $416.73 to a day high of $422.73. The price has risen in 6 of the last 10 days and is up by 2.94% over the past 2 weeks. Volume fell on the last day by -289 thousand shares and in total, 216 thousand shares were bought and sold for approximately $91.30 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and 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 12.41% during the next 3 months and, with a 90% probability hold a price between $443.92 and $515.26 at the end of this 3-month period.
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RACE Signals & Forecast
The Ferrari NV stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $415.90 and $422.40. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -3.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ferrari NV stock
Ferrari NV finds support from accumulated volume at $412.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $6.00 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: $406.60 (-3.75%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (RACE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ferrari NV to open at $420.64, and during the day (based on 14 day Average True Range), to move between $414.15 and $430.77, which gives a possible trading interval of +/-$8.31 (+/-1.97%) up or down from last closing price. If Ferrari NV takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $424.00 (0.36%) than the support at $412.21 (2.43%), 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?
Ferrari NV holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.128 Hold/Accumulate Upgraded
Predicted Opening Price for Ferrari NV of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $420.64 ( 0.431%) | $422.46 |
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 | 426.64 | 0.99 % | |
| R2 | 424.35 | 0.447 % | ||
| R1 | 422.93 | 0.112 % | ||
| Current price: | 422.46 | |||
| Support | S1 | 418.35 | -0.97 % | |
| S2 | 416.93 | -1.31 % | ||
| S3 | 414.64 | -1.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 433.36 | 2.58 % | |
| R2 | 424.77 | 0.547 % | ||
| R1 | 424.00 | 0.365 % | ||
| Current price | 422.46 | |||
| Support | S1 | 412.21 | -2.43% | |
| S2 | 389.45 | -7.81% | ||
| S3 | 379.25 | -10.23% |
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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