Hi traders,
We are currently looking at the daily chart of Ferrari. What do we see on the chart?
AB=CD pattern completion at $ 46
The big reversal in May 2016 was started at $ 46
If we draw the Fibonacci retracement from the moment of the Initial Public Offering in late 2015 to the low swing of February 2016, the 50% retracement end up just above $ 46
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![RACE: Ferrari short entry at $ 46 [Just an idea]](https://s3.tradingview.com/b/BjOtll6J_mid.png "Ferrari short entry at $ 46 [Just an idea]")
