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Antonio_trader
Sep 18, 2018 2:03 PM

Ferrari 

Ferrari N.V.NYSE

Description

The Ferrari chart offers good opportunities to get into this stock. Currently at a resistance level for a few days now, pushing of the 100 SMA. A break above 136 is a trigger for a long trade. Alternatively a small risk on shorting the bounce of the resistance, though waiting for it to push lower than 100 SMA would provide better confirmation.

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We had a retest of the broken level, which was great to add another position if you haven't already. Now let's see how this goes, stops remain in place for now.

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Price continues up , now approaching 140 round number. If a pullback happens to confirm the level, new long opportunities to add to the trade will appear. At this point we could start moving stops from the very first position.

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After bouncing of the 140 level, today price breaks higher, another long position added.
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