$RACE Tests $337 Resistance as Momentum Gradually Improves
$Ferrari NV(RACE)$
$Ferrari N.V. (RACE) Rises 1.51%: Testing $337 Resistance, Eyeing $340+ as Sentiment Improves 🏎️
Latest Close Data
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Close: $329.66 (as of 2026-05-20)
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Change: +$4.89 (+1.51%)
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52-Week High: $519.10 (Current price is -36.5% from high)
Core Market Drivers
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Recent price action shows recovery from a post-Q1 earnings dip, as the market digested better-than-expected Q1 results (revenue: €1.848B).
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Sentiment is cautiously optimistic ahead of the highly anticipated global debut of Ferrari's first all-electric supercar, the "Luce," scheduled for May 25th in Rome.
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The stock is benefiting from general stability in the auto sector, though it underperformed peers earlier in May due to unchanged full-year guidance and a slight Q1 delivery decline (-4.4%).
Technical Analysis
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Volume: Trading volume of 478.9K shares was below the recent average (Volume Ratio: 0.93), suggesting the uptick lacked strong conviction.
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RSI: The 6-day RSI at 46.14 and 12-day RSI at 43.81 are both recovering from oversold territory (<30) but remain in neutral zone, indicating room for further upside.
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MACD: The MACD histogram at -2.62 shows bearish momentum is still present but has been decelerating significantly over the past five sessions, hinting at a potential bullish crossover soon.
Key Price Levels
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Immediate Pivot: $330.4 (Pre-market price from 05/19). A sustained close above this level is key for short-term bullish momentum.
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Strong Resistance: $337.51 (Resistance from 05/18). A decisive break above this level could open the path to $340+.
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Primary Support: $322.51 (Support from 05/18). This level must hold to prevent a retest of the recent lows near $320.
Valuation Perspective
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P/E (TTM): 31.81
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Forward P/E: 29.08 (Latest)
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Ferrari's current P/E remains at a premium compared to historical averages (5-year avg: ~44.82), but the forward P/E has compressed significantly, suggesting improved valuation relative to near-term earnings expectations.
Analyst Targets
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11 Analysts have issued targets.
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Average Price Target: $438.73 (+33.1% upside from current price).
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Recommendation: Consensus leans Bullish (4 Strong Buy, 7 Buy, 2 Hold).
Weekly Outlook
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Expected Range: $322 - $340. The stock is likely to consolidate, with direction hinging on momentum around the $330-$338 zone.
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Breakout/Breakdown:
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Bullish Scenario: A sustained move above $338 with rising volume could target the $345-$350 area.
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Bearish Scenario: A failure to hold $322 support could lead to a retest of the $312-$315 zone (52-week low).
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Risk Disclaimer This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk. Past performance is not indicative of future results. Always conduct your own research and consider your financial situation before making any investment decisions. ⚠️
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