Hello fellow traders and investors, RACE also known as Ferrari has sold off to the trendline that acts as a support.
Technicals:
Technicals:
- The Macd is indicating that RACE is oversold
- The EMA's are indicating that RACE is still in a downtrend
When To Buy:
- When the Macd crosses its EMA
- When the EMA's crossover
When To Sell:
There are two options on where you could sell. The first option would be to sell at its previous high which offers a 17% ROI. The second option would be to sell when the price reaches the top trendline which offers around a 20% ROI.
NOTE: Use a daily timeframe to analyze RACE since on lower time frames there are many fakeouts with the indicators and EMA's
Hope you enjoyed the analysis and many more to come
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