ROLLS ROYCE UPS EARNINGS AMID JOBCUTS AND TRADE TENSIONS
Rolls Royce has reported its Earnings on Thursday. Rolls-Royce has upped its annual earnings outlook amid better-than-expected half-year results less than two months after announcing plans to slash around 4,600 jobs. The group reported underlying pre-tax profits of £81 million for the first half of this year. According to market sources, it swung to a £141 million underlying operating profit, from operating losses of £84 million a year ago. The current trading price is £1099.50 and has gained 3.92% from the previous closing price.
On the technical front, the RSI is currently at 81.04% and suggests that the market is in the overbought zone. The %K has crossed the %D from below to the upside at 66.70% and suggests that the market is entering into the overbought zone. The current market price is above the upper band of the Bollinger bands and is currently heading upwards.
TRADE SUGGESTION- SELL AT 1095 TAKE PROFIT AT 1072 STOP LOSS AT 1107