RACE

Momentum

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FERRARI stock price is currently trading at €281.9 with a drop of 0.53% in the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>RACE has a current market cap of €51.816 Billion.</a> </li> 
</ul> 
<p>FERRARI reached a high of €300 but could not maintain it and started to fall, starting a downtrend that shows further weakness in the market. According to the current situation, the market is trading below the dynamic support trendline which can further lead to lower levels. The market is also in a downtrend based upon a one-day timeframe as it is making lower lows.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-ferrari-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of FERRARI Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-1024x464.png" alt="FERRARI Stock Price Prediction: Is RACE Momentum Weakening?" class="wp-image-157764" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-46.png 1281w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: FERRARI.1D.MIL by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>FERRARI (MIL: RACE) has steadily seen its stock price rise for the past three months, gaining 4.64%. At the time of writing, <a href="https://www.thecoinrepublic.com/2023/07/18/ferrari-nv-nyse-race-ferrari-stock-price-may-slip-analysts/" target="_blank" rel="noopener noreferrer nofollow">RACE stock</a> is trading at €283 and has been trying to hold on to this level after a pullback.</p> 
<p>If it can keep this level, the FERRARI price could continue to go up and reach the first and second targets of €276.7 and €271.5, respectively. However, if the RACE price cannot maintain this level and falls, then it might hit the closest support levels of €276.7 and €271.5.</p> 
<p>At the time of publishing, FERRARI stock (MIL: RACE) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price trend.&nbsp;</p> 
<p>However, if selling volume adds up, then the price might prevail supporting SMAs by making lower highs and lows. Hence, the RACE price is expected to move downwards giving bearish views over the daily time frame chart.</p> 
<p>The MACD line is at -1.6528 points and the signal line is at -1.0524 points. However, the MACD line is below the signal line and is heading downward. A bearish crossover is observed in the MACD indicator which signals more bearishness for the RACE stock price.</p> 
<p>The current value of RSI is 40.84 points. The 14 SMA is above the median line at 43.44 points which indicates that the FERRARI stock is bearish.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/07/18/ferrari-nv-nyse-race-ferrari-stock-price-may-slip-analysts/" target="_blank" rel="noopener noreferrer nofollow">FERRARI (MIL: RACE)</a> suggests that the investors and traders of the share price are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment. The technical oscillators of the RACE stock price also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the RACE stock price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> €276.7 and €271.5.</li> 
 <li><strong>Resistance levels:</strong> €300 and €294.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

FERRARI Stock Price Prediction: Is RACE Momentum Weakening?

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