Rolls-Royce shares near record high ahead of half-year results
New agreements in Civil Aerospace and Defence have supported interest in Rolls-Royce shares ahead of the company’s half-year results. A sustained move above GBX 1,450 would open the way towards the record high at GBX 1,510, but volatility could rise sharply on 30 July.
The main positive development was Rolls-Royce’s agreement with Philippine Airlines. The airline signed a memorandum covering the acquisition of 18 Trent XWB-97 engines for nine additional Airbus A350-1000 aircraft. The agreement also includes options for a further five aircraft and long-term TotalCare service coverage.
Rolls-Royce also signed a contract with Sabena technics to service the AE 2100D3 engines powering the Franco-German fleet of C-130J and KC-130J aircraft. The MissionCare programme will run until December 2030 and strengthen the Defence division’s long-term position, although the financial terms were not disclosed.
GBX 1,450 breakout puts the all-time high in focus
The scenario from the previous analysis played out in full. Rolls-Royce shares tested the projected support at GBX 1,355 before buyers pushed the price back above the psychological GBX 1,400 level.
Key resistance for today stands at GBX 1,450. A daily close above this level would confirm that bullish momentum remains intact and open the way towards the all-time high near GBX 1,510.
If buyers fail to establish a foothold above GBX 1,450, the probability of profit-taking and another test of GBX 1,400 will increase. The approaching half-year results could also raise volatility significantly and temporarily reduce the relevance of technical levels.
Rolls-Royce shares face higher volatility ahead of half-year results
Rolls-Royce will publish its half-year results on 30 July. Investors will focus on free cash flow, Civil Aerospace margins, widebody flying hours and confirmation of the full-year operating profit guidance of £4.0–£4.2 billion.
Short-term traders may consider taking partial profits and reducing leveraged exposure ahead of the release. The market reaction could be sharp in either direction.
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