Rolls-Royce : under pressure following stake sale

The stock loses ground this morning on shareholder exit report

Downtrend 2

Rolls-Royce is losing ground this morning after the Financial Times reported that activist shareholder ValueAct has sold its remaining stake into the company. 

From a chartist point of view, the stock trades in a congestion area between the 294 resistance and the 212 support. The daily 50 day MA is negatively oriented above prices while the daily RSI stands below 50. A break below the support at 212 would call for further decline towards 2008 bottom at 186.

Source : TradingVIEW, Gain Capital

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