Rolls-Royce shares: will the increase now be decorated?

Shares of Rolls-Royce have been on a positive upward trend since October 2022. Last year, the share price increased by more than 230 percent, making it the best performer in the index of the leading British FTSE 100. And this year, too, the price of the stock shows no signs of fatigue.

After 3 and a half months, the price increase has already returned by more than 37 percent. In January, the stock temporarily decreased to around the 300 dinar mark. However, this was mainly due to the long-term downward trend in this zone since a record high in early 2014.

The scan is successful

A successful breakout was finally achieved in February, which was also confirmed as part of the pullback of the breakout line. Since then, the stock price has gained nearly 45 percent, accompanied by strong business figures and a bullish outlook.

At the beginning of April, the price reached a multi-year high of 435 pence, which was followed by a slight correction. They have recovered to 395.70 pence this week, closing the gap from March 21 between 407.70 and 414.30 pence.

What’s next for Rolls-Royce shares?

The price rose again on Friday, meaning that the stock price may be about to continue its rally to the top. If the price overcomes the upward movement at 435 dinars, the way to reach the record high at 444.10 dinars will be opened. Then the journey can continue towards 500 pence.

If the correction continues, the 400p level represents important support Below this there could be a test of the 2018 high of 389p.

Rolls Royce Stock Chart

That’s what analysts say

Analysts see the stock as having an average value of 447.80 dinars, meaning they believe it could reach new record highs. Much more would be possible up to the maximum target price of 550 dinars. Currently there are 10 Buy, 2 Overweight, 4 Hold and 1 Sell ratings.