Rolls Royce Holding (RLLCF) Stock Sees Profit Booking At Higher Levels

If you are looking into some of the major gainers this week so far then it could be a good move to take a look at the Rolls Royce Holding (OTCMKTS:RLLCF) stock.

While it is true that the stock went down by 22% on Thursday, it is also necessary to note that over the course of the week so far the stock is still up by 130%. Not too long ago, the company provided a trading update for the first few months of this year.

Despite the poor performance last year, the company had announced last year that it was going to become cash flow positive. In its latest update, Rolls Royce stated that it is on track to achieve that particular goal. The management stated that as vaccination numbers continue to rise, the coronavirus pandemic is going to come under control and people are soon expected to go back to travelling by aeroplanes. That can only be a massive positive for the company.

Market Reaction:

On Thursday, RLLCF stock was down 22% to $0.0.370 with more than 91.71 million shares, compared to  its average volume of 11.81 million shares. The stock has moved within a range of $0.0311 – 0.0550 after opening the trade at $0.0474. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1006.

Pivot Points

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