olly48

Rolls Royce - Do Not Miss The Big Opportunity in RR

Long
LSE:RR.   ROLLS-ROYCE HOLDINGS PLC ORD SHS 20P
This 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.

Comments

nice perfect.
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waiting for daily MACD cross over... then I'm in
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olly48 bufftrader
@bufftrader, Nice. Should be a smart move. Dropped a bit further than I expected, I think due to the situation in the markets a couple of weeks ago but its held up at 0.618 Fib
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bufftrader bufftrader
@bufftrader I'm in a small amount, will buy more after daily 20SMA Xover
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Best of luck - I'm afraid £1 wasn't much of a support in July in fact it proved to be resistance - Ive got a feeling RR will be revisiting its lows as the stock market unwinds from historically high levels in the next few months and gets caught in the ebbing tide - that said - I will be a buyer at 60p
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olly48 stanvax
@stanvax, Thanks, yes I would have expected £1 to hold up as support as the price did break this barrier back in November so I saw this as a correction to test this previous resistance which would now to turned support. Obviously it has surpassed this now but I think this is due to the crazy markets this week caused by the Reddit group with Gamestop etc. Using Fibonacci the 0.618 level aligns with 90p and some previous resistance so personally I would be surprised if this drops lower. I think overall the markets are correcting anyway but I don't think it will last much longer. If it does drop to 60p then you have to opportunity of a life time I would say, I dont see it personally but anything can happen
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I think it's an excellent opportunity long-term. I can easily see 300 again, may not be just yet. Monthly RSI is around 33 so prospects are good but maybe a bumpy ride in the medium term. I am holding off to see if 90 breaks down.
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olly48 sukhm20
@sukhm20, Thanks. Yes the events this week have made the markets extremely choppy so it would be safest to let things settle first, i agree
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sukhm20 olly48
@olly48, Very choppy. Could plummet some more especially if they need to use that 2bn cash reserve. 21MA is holding on the weekly at the moment. Either way, it's an excellent opportunity. Can see it shooting up once long-haul planes hit the skies again.
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olly48 sukhm20
@sukhm20, Exactly, Ive been long on this since it plummeted in October so its a long term hold as you say, huge amount of potential if you are patient
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