Ferrari Gallops Ahead Of Q1 Earnings Report

Ferrari N.V. is scheduled to release its Q1 2016 earnings data today. The company is forecast to post an EPS of $0.30, which would be about 30% lower than the results of Q4 2015. On the hourly chart, RSI (14) is now hovering around 66.19, indicating that the stock is in a bull market. ADX (14) is now 37.81 with DI+ staying above DI-, suggesting a strong uptrend. The stock is expected to rise and retest the resistance at 46.12 before dropping back.

Trade suggestion
Buy at 45.79, Stop loss at 45.54, Take profit at 46.07

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