Ferrari NV Stock Analysis

Ferrari NV gained 2.36% in the last trading day, rising from $140.64 to $143.96 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 10.53% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 185 387 more shares were traded than the day before. In total, 702 260 shares bought and sold for approximately $101.10 million.

Trend

Ferrari NV 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 15.82% during the next 3 months and, with 90% probability hold a price between $151.22 and $172.31 at the end of this period.

Signals

Only positive signals in the chart today. Ferrari NV holds buy signals from both short- and long-term moving averages. In addition, 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 $138.92 and $132.78. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday June 08, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Support & Resistance

Ferrari NV finds support from accumulated volume at $137.33.


Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.69 (1.89%) between high and low. For the last week, the stock has had a daily average volatility of 1.36%.

Our recommended stoploss: $138.25 (-3.97%) (This stock has low daily movements and this gives low risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from pivot bottom found 3 days ago.)

Overall risk:


Evaluation

Ferrari NV holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.



source: StockInvest.US