Racing Toward a Breakout? (RACE)

by | Oct 22, 2024

Sometimes it seems like stocks take on the personality of their companies.

Johnson & Johnson is a boring company with boring products. 

Guess what? 

The stock chart is boring.

NVDA on the other hand is an exciting company on the cutting edge. 

Guess what? The stock is exciting, too.

Which brings us to another fast-moving stock: Ferrari (RACE).

What do you think of when you think of Ferrari? 

Fast-moving explosiveness.

The chart is also turbocharged:

RACE is prone to quickening pulses via powerful breakouts.

A move above $498.25 could lead to just that.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

 


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