RYCEY - They don't want to see the Wraith!In the words of Meek Mill, "They don't want to see the squad, they don't want to see the Wraith!"
I think we are "Litty" again with this one boys and girls and it's time to hop in the Wraith.
Rolls Royce
- Iconic brand. Can you see a world with no Rolls Royces?
- The stock is trading at an all-time low at $1.34, it IPO'd in 1995 at ~$2.35.
- The RSI just bounced off an all-time oversold level and is now showing higher lows. The bad news about the airline industry and lack of engine sales attributes to this. Buy when there is blood in the streets.
- The MACD is showing a shift in momentum beginning.
- It appears we have finished a huge long term head and shoulders pattern and are ready to fire back up.
In a market where ALMOST EVERYTHING IS OVERVALUED, I feel like RYCEY could be a diamond in the rough. I'm a buyer at $1.34 and see potential targets of $5.58 and $8.99 in the next 2 years! If that happens you might just catch me in a Wraith :)
RRU1 trade ideas
Tough Week for RRCurrently RR is in the bearish zone and most probably will consolidate at this level for few days and will try to test the resistance at 100 .Every fundamental news easy raise again the price to previous level of 105 - 120. On 1 hour, 2 hours chart we can see that the EMA 50 crosses EMA 200 few day ago, but on 4 hours this will appear on Wednesday or Thursday and this could push again the price lower to 88-92 range. This is not advice.
Rolls Royce - Do Not Miss The Big Opportunity in RRThis is at strong support both technically and psychologically as it is at £1. I do not expect this to drop anymore from here, if it does then a quick bounce back should be expected as can be seen on the 21st December 2020. I have set TP at the previous high of 146.45 and then another target at 164 if it breaks the previous high.
Rolls RoyceIt looks like Rolls Royce has broken the ascending channel and has been forming an accumulation range around the 100 - 110 area.
What's next?
Potentially we could break out of this descending wedge into another channel?
I'm seeing 85.00 and 95.00 are the next support zones if so, and at that point I will accumulate more inventory.
The potential next resistance points are 130.00 where I'll be locking in some profits from a 104.00 swing trade.
Trade safe and Namaste!
Rolls Royce Entry ( Long term)We can see a nice range where RR is in at the moment, this is the same range from a small period in 2015.
We also see a small compression in the last weeks. This could result in an impulse.
Because of the third lockdown in UK we expect an impulse going down, touching the support level around.
3 Entry's:
1)If you don't want to miss it out, you can open an aggressive entry around 103.
2) If you are looking for a safe entry you can also enter around the support level (88)
3) The third entry is around 67 , also the bottom green line, in a worst case scenario it possibly can drop this low.
Keep in mind there is a small chance that it will hit that level again.
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