Rolls-Royce Holdings plc : Fly to new highs
By Josselin Giraud
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 891.5 | GBX 0 | GBX 871 | -100% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the GBp 913.5 resistance. A breakout of this level will be a new bullish signal for higher target price (GBp 950). A stop loss will be fixed under the GBp 880.5 short term support.