RR..L rallies 6.54% on high volume


Rolls-Royce Holdings (RR..L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
RR..L rallies 6.54% on high volume
RR..L dominated by bulls lifting the market higher throughout the day
RR..L pushes through 200-day moving average
RR..L finds buyers at key support level
RR..L finds support at 100-day moving average
TQ Sentiment
Technical Forecast:
Overview

RR.. L ended Thursday at 882.80 surging £54.20 (6.54%) on high volume. This is the biggest single day gain in over three months. Today's closing price of 882.80 marks the highest close since April 11th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 843.20, Rolls-Royce Holdings confirms its breakout through the prior session's high having traded £40.40 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for RR..L
Volatility

Thursday's trading range was £38.60 (4.51%), that's far above last trading month's daily average range of £14.88. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 845.00 during the day, the share bounced off the key support level at 845.20. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 889.40. After trading as low as 845.00 during the day, the market found support at the 100-day moving average at 854.48.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock managed to break above the 200-day moving average at 873.34 today for the first time since March 7th.

Order Flow

Trading close to April's high at 903.40 we might see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Rolls-Royce Holdings
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Belt-hold TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RR..L stuck within tight trading range

Jun 21, 2018
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