Rolls Royce

In something which seems to be becoming worryingly regular, Rolls Royce issued another profit warning yesterday; indeed it’s second such event since February this year. The shares crashed to a new recent low of 772p, with no doubt the news that the company’s first ever share buyback scheme is to be discontinued acerbating the move lower. All the more disconcerting for investors in Rolls Royce is that this comes just days after new CEO, Warren East, took up his new post. But does the recent weakness in share price offer an opportunity? Certainly from a technical perspective the current level arguably offers a good area of support: having previously moved higher from this level back in 2012 and 2014.

Senior Trader, Jordan Hiscott

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