Rolls Royce shares: getting a new speed!

To die Rolls Royce shares was one of the best values ​​in the leading British index FTSE 100 on Tuesday with a price increase of almost 3 percent. The sector benefited from good conditions in the defense sector. Rival BAE Systems also rose sharply with a share price increase of 2.68 percent. In this country, the prices of Rheinmetall and Hensoldt continued to rise.

Since mid-December, Rolls Royce shares have been in a consolidation phase after a price rally of more than 200 percent last year. The paper has advanced to the main bearish trend since the beginning of 2014. This trend has created strong resistance expected in recent weeks.

Stocks are gaining momentum again

Over the past few days, however, the stock has picked up momentum again and now appears capable of breaking through the bearish trend to the upside. Earlier, a major hurdle had already been cleared by the 61.8% Fibonacci retracement of the 2014 low at 287.70 British pence (GBX).

Rolls Royce Stock Chart

What’s next for Rolls Royce shares?

After breaking the bearish trend, there is now a new price target at 356.50 GBX. This is where the 78.6% Fibonacci level is. The path to the GBX 400 mark will be clear. On top of this is a record high since the beginning of 2014 at GBX 444.10.