Trade Setup: Rolls Royce Plc - Medium Term

Along with the Marks and Spencer Plc, one of the UK names I've been looking at it Rolls Royce Plc. Below are the key drivers as noted last week.

Rolls Royce Plc (Industrials, LSE)

- Recent earnings: back in profit
- Sideways channel, potential to break up
- Potential gap close at 182.00
- Price basing above 200-day
- 2-tier trend line play
- Long above 116.00
- Stop: 104.00
- Tgt: 144.00

(Also have a look at Royal Dutch Shell, which is nearing the upper range of an 18-month base).

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