Long Position on RACE @ $127.00 on 2/20/2018 (Momentum)

Ferrari N.V. (RACE) designs, engineers, produces, and sells luxury performance sports cars.

The company offers seven models, including four sports cars that include 488 GTB, 488 Spider, F12berlinetta, and special series F12tfd; and three GT cars, which comprise California T, GTC4Lusso, and GTC4Lusso T.

It also provides LaFerrari Aperta, a limited edition supercar; Fuoriserie, a very limited editions series; one-off cars; F60 America, a V12 open air roadster; and Ferrari J50, a two-seater mid-rear-engined roadster. In addition, the company offers non-registered racing cars; and parts, as well as after sales, repair, maintenance, and restoration services for cars.

Further, it licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi, the United Arab Emirates.

Additionally, the company provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; and manages race tracks.

As of December 31, 2016, it had a total of 45 retail Ferrari stores, of which 29 stores were franchised stores, including 8 Ferrari Store Junior and 16 stores were owned and operated by the company. The company also sells its products through a network of 170 authorized dealers operating 188 points of sale worldwide, as well as through its Website, www.store.ferrari.com. 

Shares have formed a bullish "cup and handle" and are on the cusp  of breaking out of their formation. Higher share prices are expected for this stock.

52-Weeks Trading Range: $64.76 - $131.20

Entry Point: $127.00

Stop Loss: $120.50

Target Price: $139.60

Updates

5/21/2018 11:40:51 AM

RACE closed at $133.52

Position closed on 5/21/2018 at price of $133.52 with a 5.13% gain in 90 days.

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