Rolls Royce Holdings Plc (LSE:RR.)
One of the trite sayings attributed to Warren Buffet goes along the lines of; “If you’re not willing to buy a share and wait 10 years, don’t dare buying one for just a 10 minute trade!” Blue chip share Rolls Royce is tending prove this statement, many folk assuming the 100p level would prove sacrosanct. Alas, this has not been the case and now, it’s getting as worrying as your next electricity bill.
Whatever is going on with Rolls Royce share price is all very strange. We’d assumed with Covid restrictions easing and jets once again flying, Rolls Royce share price would move in sympathy with the growth in air miles being covered. This assumption has obviously proven incorrect, the share price now trading in a zone where we can calculate an “ultimate bottom” around 24p, this representing a price level below which we cannot calculate.
Additionally, with Rolls Royce creating a new facility in France to produce engines for Dassaults shiny new Falcon 10X flagship, common sense indicated some optimism should enter the marketplace and affect the share price. It didn’t!
And then, there’s the hype around Rolls Royce and their new mini nuclear plants, produced on a modular basis and recently announced as being deployed in the Netherlands as the heart of the countries climate and energy policy for the future. It’s all looking quite exciting for the future, especially as the reactors (just 16 metres by 4 metres) are reckoned to enjoy a lifetime of around 60 years.
Despite this plethora of potentials, we’re pretty far from confident about Rolls Royce share price potentials for the immediate future, the share price requiring to close a session above 84p just to give a modicum of hope for positive movements. In the face of a stock market which feels determined to discover how far down RR can be pushed. Currently, below just 73p calculates with the potential of reversal now to an initial 60p with secondary, if broken, at 54p. Some slight hope can be taken from the close proximity of these target levels as generally, this will signify a zone in which a bounce can be anticipated. The share price requires below 54p to enter the Last Chance Salon, an area with an eventual ridiculous looking 24p awaiting.
What feels distinctly silly is giving such a negative outlook against a company which appears to show strong positives for the future. Perhaps Mr Buffets 10 year rule shall prove firmly embedded in reality.
To dwell briefly on the positive side of life, above 84p is supposed to provoke recovery to an initial 92p, exceeding the immediate Blue downtrend. Our secondary, if such a level is bettered, works out at 102p but, our rule of “Higher Highs” takes the price into a zone where a longer term ambition at 149p calculates as very possible.
In summary, we don’t expect a visit to 24p, instead thinking this shall prove worth watching for the 60p area making itself known. Like many shares, it’s currently worth watching but perhaps cover your eyes loosely.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:10:03PM | BRENT | 89.53 | |||||||||
| 9:13:41PM | GOLD | 1674.38 | ‘cess | ||||||||
| 9:16:38PM | FTSE | 7199 | 7175 | 7162 | 7123 | 7206 | 7260 | 7278 | 7319 | 7224 | Success |
| 9:18:46PM | STOX50 | 3448.3 | ‘cess | ||||||||
| 9:24:57PM | GERMANY | 12589 | Success | ||||||||
| 9:27:42PM | US500 | 3779 | ‘cess | ||||||||
| 9:30:28PM | DOW | 30131 | ‘cess | ||||||||
| 9:33:00PM | NASDAQ | 11593 | 11572 | 11557 | 11115 | 11702 | 11734 | 11764 | 11827 | 11651 | ‘cess |
| 9:35:33PM | JAPAN | 27105 | ‘cess |
21/09/2022 FTSE Closed at 7237 points. Change of 0.63%. Total value traded through LSE was: £ 5,887,379,129 a change of 9.29%
20/09/2022 FTSE Closed at 7192 points. Change of -0.61%. Total value traded through LSE was: £ 5,386,737,074 a change of -59.64%
16/09/2022 FTSE Closed at 7236 points. Change of -0.63%. Total value traded through LSE was: £ 13,346,961,271 a change of 170.28%
15/09/2022 FTSE Closed at 7282 points. Change of 0.07%. Total value traded through LSE was: £ 4,938,182,265 a change of -14.27%
14/09/2022 FTSE Closed at 7277 points. Change of -1.46%. Total value traded through LSE was: £ 5,760,077,523 a change of 12.58%
13/09/2022 FTSE Closed at 7385 points. Change of -1.18%. Total value traded through LSE was: £ 5,116,295,478 a change of -13.94%
12/09/2022 FTSE Closed at 7473 points. Change of -100%. Total value traded through LSE was: £ 5,944,877,720 a change of 0%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
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