Stock of the day: Rolls-Royce

In today’s stock of the day, we present you with Rolls Royce! Yes, another carmaker after Tesla, Ford, and Ferrari, all of which we’ve featured in previous articles. Yes, Rolls Royce does produce cars, and that was probably your first association, but their main business is building engines, you know, for aircrafts, airplanes, and that kind of thing.

Rolls-Royce is doing really great, and in fact, today we received a confirmation of a long-term buy signal. The positive sentiment is coming from the fact that the price escaped from the small pennant formation (blue lines). What’s more, and this can actually be more relevant, is that the price broke the horizontal (yellow) and dynamic (red) resistance on 1.135. We are currently on the highest levels since the 22^nd of March.

With all this, the buy signal is ON. The positive outlook will be canceled, when the price will come back below the yellow support but with the current movements, it doesn’t seem likely.