Ferrari shares have been rallying over the last quarter, with indicators showing of a brekaout in either direction is on the verge.

Taking a look at the shares of Ferrari, from a technical aspect the price of Ferrari’s shares sits at €191.15. First support level sits at €183.38 where the bottom line of the symmetrical triangle acts as support (orange trendline). A break below the symmetrical triangle could result in the share dropping towards the next support level at €179.12, where the bottom green trendline is acting as support. Towards the upside, resistance sits at €195.07 followed by a further resistance level at €201.12 (top green trendline). A break above the upper green trendline could see the Ferrari shares burst out of the symmetrical triangle. RSI reads 37 suggesting a negative stance but MACD is suggesting a neutral stance.