On Thursday, Ferrari earned a positive adjustment to its Relative Strength (RS) Rating, from 69 to 76.
Can You Really Time The Stock Market?
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matched up against all other stocks.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 as they begin their biggest price moves. See if Ferrari can continue to show renewed price strength and clear that threshold.
Ferrari broke out earlier, but has fallen back below the prior 503.10 entry from a cup with handle. If a stock you're watching climbs above a buy point then retreats 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the latest pattern is a later-stage base, and those involve more risk.
While earnings-per-share growth dropped last quarter from 24% to 19%, revenue grew 13%, up from 7% in the previous report. Look for the next report on or around Jul. 31.
The company holds the No. 1 rank among its peers in the Auto Manufacturers industry group. General Motors and Tesla are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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