RR.L rallies 2.74% closing £26.20 higher
Rolls-Royce Holdings (RR.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
RR.L ended the week 1.15% higher at 981.20 after surging £26.20 (2.74%) today. This is the biggest single day gain in over a month. Today's closing price of 981.20 marks the highest close since September 4th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 958.80, the share confirms its breakout through the previous session's high having traded £24.00 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (RR.L as at Sep 14, 2018):
Friday's trading range was £25.20 (2.63%), that's above last trading month's daily average range of £17.63. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 970.20 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 999.00.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.