ROLLS ROYCE STOCK - RR Technical AnalysisBased on Technical analysis - HOLD
This stock is 179.1% Overvalued
RYCEF trade ideas
Rolls Royce Terminal Move ( In 5th Wave ) Terminal move in the making...
There are different scenarios for this idea...
1) If the a wave is in fact larger 5th wave of the Terminal wave, Price will go up sooner...
2) If we are only in the part of 5th wave of the terminal move then we can make a triangle for the 5th wave which is common or we can make any other corrective way but flat with a failure or a triangle is more likely...
Rolls Royce Technical and Fundamental AnalysisTechnical Analysis - Hold and wait the right signal to buy
The Market is bearish since the Virus came in - let's try to follow the trend
Fundamental Analysis -
Bed news around the airline (or connected business) that do not help RR. Furthermore, RR is looking at cutting up to 15% of its 52,000 strong workforce.
Conclusion, for a short term wait the right signal to sell, while for a long term investment RR is a good market where to buy, just wait the right signal to buy (perhaps in 6 months)
Rolls Royce PLCSpoofing or someone just dumped a whole load of shares on RR.
In any case that must have taken most of long positions out for retail traders since stop losses must have been triggered on this one,
With no buyers left price heads south, still bullish on this one and still on the trade as we broke out of this descending wedge that we have been in for a while,
It looks like we are heading towards a right shoulder of a reverse H&S pattern as indicated by the blue arrows.
Rolls-Royce falling down due to BrexitRolls-Royce Holdings Plc's cash outflow ballooned in the first half as a bottleneck in plane deliveries at Airbus SE and Boeing Co. reduced engine revenue and stockpiling for a no-deal Brexit led to a build up of parts.
Europe's biggest jet-engine maker posted negative underlying free cash flow of 429 million pounds ($522 million) for the six months, almost six times the level of a year earlier. The shares fell as much as 2.3%.
RYCEY appraoching support, potential bounce!RYCEY is approaching our first support at 11.2563 (horizontal pullback support, 50% fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 13.06665 (horizontal swing high resistance).
Stochastic is also approaching support.
