Milan: Ferrari in the red
(Teleborsa) - A negative day for Ferrari as it sheds -1.87%.Comparing the share price trend with the FTSE MIB on a weekly basis, we see Ferrari maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of -0.02%, versus a -1.57% gain in the index).
Ferrari's medium-term scenario corroborates its negative trend. However, an analysis of the short-term chart gives a first indication that the bears are on the way out, with the share price rising towards first resistance in the 412.4 area. Support is at 408.4. Further positive moves would support the case for a new high in the 416.4 area.
These analyses are to be considered solely for information purposes and are not in any way intended to constitute financial advice, a solicitation of funds from the public or the promotion of any form of investment.
(Teleborsa Research Department)
(Teleborsa) 11-26-2024 12:30 PM