#FTSE #NASDAQ When running through the headlines prior to writing about Rolls Royce, we accidentally stumbled over an Autocar article about the new Rolls-Royce Ghost offering from BMW. Our reasoning for avoiding ever buying a Rolls Royce comes from the other BMW marque, “Mini” along with the often appalling reliability of the vehicles. A relative experienced this at first hand, eventually being told the only fix the dealer could recommend was a new engine, along with the risk this might not solve the electronic problem. Eventually, she realised they simply were unable to sort the issue and effectively scrapped the vehicle, buying a Toyota which has proven utterly reliable, especially as she remembered to have rust treatment applied before it enjoyed Scotlands salty roads.
Of course, the real reason to avoid buying a Rolls Royce, especially after reading the Autocar review, relates to the price of the things. Dropping a 1/3rd of a million on a car which is designed to convince the occupants they are not in a car is silly. Plus, when a chum bought a Bentley Continental GT, within the first year he appreciated cars such as this cannot be purchased unless you can also afford the exorbitant maintenance costs. And thus, after admitting there’s no way we could afford the purchase of a Roller, it’s time to review the real Rolls Royce company who no longer make the cars on which their fame was initially built.
With Rolls Royce and their stunning reputation in jet engine manufacture, it must be admitted there are few companies more deserving of trust when they have successfully knocked together modular nuclear power generation plants, their designs now approved in the USA. Essentially, this is a regime where a few big trucks can park beside a source of water, then produce sufficient electricity to charge a Tesla or provide power for an entire city. With the USA seeming to find its infrastructure trashed in different areas by weather events, there must be a growing awareness mobile nuclear power perhaps shall not be a bad thing. And if it comes with a Rolls Royce logo, so much the better.
Rolls Royce share price has been climbing quite remorselessly during 2024, thankfully paying visual homage to our prior target levels of 309 and 397p. For a while, we suspected it may be “stuck” at the 309 level until in February this year, the market opted to gap the price up to 355p and get things moving. Once again, things stalled at the 397 level until, once again, the market gapped the share price upward toward the end of March this year. With price gains again kick started, Rolls Royce finally hit a high of 535p a few weeks ago, the period since working hard to give the impression the rising cycle has again stalled.
We smell a rat.
While we suspect some dramatics shall be possible in the near term with a chance of reversal to 494p, it feels like there is plenty of room for more positive gains. Our scenario is pretty unusual, suspecting the market may play ball by once again gapping Rolls Royce upward anytime soon, preferably above 550p as this trigger calculates with an initial target of 642p. In the event such a level is exceeded, we can introduce a long term target of 721p and that’s it. The share price shall either need a really convoluted path to 721p or the market will need to keep gapping it up at the open for us to be gifted with the ability of calculating beyond 721p.
And of course, there’s always the classic danger of us thinking we understand what’s happening with this share price and unfortunately, usually with someone is convinced they know what’s going on, that’s the point where the universe gives a lazy grin and says “gotcha”.
Our only defence at this point needs RR to close a session below 494p to justify panic.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 1:13:14AM | BRENT | 7743 | Shambles | ||||||||
| 1:16:00AM | GOLD | 2522.15 | Success | ||||||||
| 1:23:36AM | FTSE | 8215.3 | 8182 | 8155 | 8095 | 8230 | 8267 | 8300 | 8340 | 8227 | Success |
| 1:27:11AM | STOX50 | 4958.3 | ‘cess | ||||||||
| 1:51:22AM | GERMANY | 19101 | |||||||||
| 1:55:30AM | US500 | 5747.5 | |||||||||
| 1:59:45AM | DOW | 42051.2 | |||||||||
| 2:08:53AM | NASDAQ | 20084.9 | 19976 | 19937 | 19871 | 20080 | 20137 | 20190 | 20258 | 20077 | ‘cess |
| 2:13:24AM | JAPAN | 39382 | Success |
8/10/2024 FTSE Closed at 8190 points. Change of -1.36%. Total value traded through LSE was: £ 6,655,496,813 a change of 41.95%
7/10/2024 FTSE Closed at 8303 points. Change of 0.28%. Total value traded through LSE was: £ 4,688,627,065 a change of -10.63%
4/10/2024 FTSE Closed at 8280 points. Change of -0.02%. Total value traded through LSE was: £ 5,246,156,906 a change of -2.97%
3/10/2024 FTSE Closed at 8282 points. Change of -0.1%. Total value traded through LSE was: £ 5,406,589,998 a change of 0.25%
2/10/2024 FTSE Closed at 8290 points. Change of 0.17%. Total value traded through LSE was: £ 5,393,073,396 a change of -18.14%
1/10/2024 FTSE Closed at 8276 points. Change of 0.49%. Total value traded through LSE was: £ 6,588,507,831 a change of -4.69%
30/09/2024 FTSE Closed at 8236 points. Change of -1.01%. Total value traded through LSE was: £ 6,912,406,295 a change of 9.55% 
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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