Rolls-Royce: double-bottom rebound, trade under management
Rolls-Royce rebounds 3.7% and completes a double bottom as buyers retake control
Rolls-Royce: double-bottom rebound, trade under management
Our view last week
Rolls-Royce stock notches a second straight down week, shedding 5.1% after last week's 4.4% drop: sellers are back in control of the volume, 69% versus 31% on the buy side. In the weekly technical picture momentum is fading fast and the RSI has eased for a second week running, though on the daily chart the stock has already bounced 2% off its 50-day moving average. The trade's gain has shrunk to 4.2%, down from 9.75% a week ago.
This week's summary
Rolls-Royce stock snaps two straight down weeks with a 3.7% rebound, backed by 97% of volume on the buy side versus just 31% a week ago. On the daily chart the stock has just completed a double bottom in the 1340 area, with an intermediate rebound of 13%. In our weekly technical analysis money flow swings back firmly positive and the RSI climbs, though the pace of the recovery still looks contained. The trade has been under management for 14 weeks, gains back up to 8%.
IQS Phase
53
ordinary
Signal Strength
32
medium · weak
Sizing
REDUCED
Ranking
#57 / 59
EU-UK stocks in progress
Trade P&L %
+8.01%
from signal to today
Rank position
ranks 57th among the 59 Longs already running for European-UK stocks in our ranking, with a signal strength of 32 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH4
Sector regimein positive regime
Performanceweekly +1.57% · monthly +0.29%
RR. belongs to the european sector (reference ETF EXH4). The sector is classified in positive regime according to our weekly reading.
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