Will Rolls Royce fly again?

#BrentCrude #SP500  We keep stumbling across references to Rolls Royce and electricity. From cunning plans to power cities, using small nuclear reactors, to the news they intend fly a light aircraft above 300mph, creating a new world record, pretty clear signals are being given of a coming attempt to expand beyond dependence on large aircraft engines. The funny thing about their revolutionary light aircraft, it has a passing resemblance to the original Supermarine Spitfire, testament a 80 year old airframe design didn’t miss the mark!

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Of course, those of us who’d been expecting flying cars by now remain disappointed at the lack of progress from an industry where aerodynamics peaked and now, we’re forced to await changes in propulsion technology, surely the reason Rolls Royce are in business.

 

As expected, the company announced massive losses for 2020, the pandemic stifling any demand from a grounded aviation industry. As Rolls Royce don’t actually sell engines to the aviation industry, the pandemic hit hard. The clever plan of leasing engines to operators worked well when Rolls Royce could charge when their engines were being used. But with air travel effectively grounded, Rolls Royce lost its major income stream as they only were paid for every hour their engines were in use. Doubtless, with a return to normality, Rolls Royce shall again find dollar signs flowing out of the taps at their Derby offices.

In terms of share price, since February we’ve been expecting Rolls Royce to bottom around 82p, a number which has assumed magical qualities and remained utterly invisible. Instead, the lowest achieved has been around 100p and we’re starting to suspect some real strength may be waiting below the surface. This being the case, we can assemble a scenario where near term movement above 110p should promote price recovery toward a fairly useful 130p. Visually, there’s a heck of an argument anticipating some hesitation, should the 130p level make an appearance. Only with closure above the 130p shall we feel justified in expressing hope for the longer term as a complex path toward 204p becomes possible.

This, unfortunately, represents a target of a 1/3rd of Rolls Royce pre-pandemic price, suggesting the share has a long way to go to promote the concept of miracle growth. Visually, the price needs close above the immediate Blue downtrend, currently 290p, to hint at the presence of true climbing ability. We think Rolls Royce shall merit close attention, should the market find reason to start “gapping” the price up at the open. Any initiative such as this is liable to make the share move faster than price behaviour for this year indicates.

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FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
1:00:31PM BRENT 63.1 62.9 62.16 61.17 64.2 64.78 65.725 66.85 63.64
1:02:17PM GOLD 1725.53
1:03:40PM FTSE 6783
1:06:51PM FRANCE 6135
1:10:37PM GERMANY 15181
1:12:31PM US500 4041 4030 4024.5 4018 4039 4044 4049 4115 4030
1:14:52PM DOW 33368
1:17:25PM NASDAQ 13384
1:19:02PM JAPAN 30090

1/04/2021 FTSE Closed at 6737 points. Change of 0.36%. Total value traded through LSE was: £ 4,951,625,470 a change of -27.29%
31/03/2021 FTSE Closed at 6713 points. Change of -0.87%. Total value traded through LSE was: £ 6,810,341,283 a change of 35.19%
30/03/2021 FTSE Closed at 6772 points. Change of 0.53%. Total value traded through LSE was: £ 5,037,784,451 a change of -0.62%
29/03/2021 FTSE Closed at 6736 points. Change of -0.06%. Total value traded through LSE was: £ 5,069,344,780 a change of -13.54%
26/03/2021 FTSE Closed at 6740 points. Change of 0.99%. Total value traded through LSE was: £ 5,863,243,404 a change of -5.15%
25/03/2021 FTSE Closed at 6674 points. Change of -0.57%. Total value traded through LSE was: £ 6,181,901,218 a change of 0.02%
24/03/2021 FTSE Closed at 6712 points. Change of 0.19%. Total value traded through LSE was: £ 6,180,734,714 a change of -2.58%

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

The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!

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