$RACE gains 3.99% as price targets $383 resistance
$Ferrari NV(RACE)$
$Ferrari N.V.(RACE) Surged +3.99%: Electric Order Surge Ignites Rally Towards $380
📈 Latest Close Data
Closed at $369.06 (+$14.15, +3.99%) on 2026-06-16. The stock is now ~$150 below its 52-week high of $519.10, indicating a significant recovery runway.
🚀 Core Market Drivers
-
Morgan Stanley upgraded its price target to $438 from $388, citing excessive pessimism and strong long-term brand fundamentals.
-
Ferrari's first EV, the Luce, has secured its first 1,600 firm orders with partial payments received, alleviating fears of brand dilution.
-
Market sentiment is recovering from the initial sell-off, with UBS noting the EV is a complementary extension of the product line.
🔍 Technical Analysis
-
Volume surged to 700.02K (Volume Ratio: 1.25), confirming strong institutional buying interest.
-
MACD shows bullish momentum: DIF (5.41) > DEA (3.06) with a rising MACD histogram (4.70).
-
RSI(6) at 64.73 indicates strong momentum but is approaching overbought territory, suggesting potential for a short-term pause.
🎯 Key Price Levels
-
Immediate Pivot: $371.56 (pre-market price). Breaking above could signal continuation.
-
Primary Support: $343.60 (previous session low). A key level for the current uptrend.
-
Strong Resistance: $382.98 (recent high). A decisive break above this targets $400+.
💰 Valuation Perspective
Forward P/E is 31.70, significantly below its 5-year average of 44.54 and recent highs, suggesting the stock may be undervalued relative to its historical premium.
🎯 Analyst Targets
11 analysts cover RACE with an average target price of $438.82. The sentiment is overwhelmingly bullish, with 4 Strong Buys, 8 Buys, and 1 Hold.
📅 Weekly Outlook
Expect consolidation between $360 - $383 as the market digests recent gains. A confirmed break above $383 could propel prices towards the $400 - $420 zone. A fall below $360 may see a retest of the $344 support.
⚠️ Risk Disclaimer This analysis is for informational purposes only and does not constitute financial advice. Trading involves significant risk of loss. Past performance is not indicative of future results. Please conduct your own research before making any investment decisions.
😍 Been eyeing Tiger merch but short on Tiger Coins? Now's your chance.
🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold!
Hot Merch Returns · Up to 43% Off
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
