- Summary:
- Markets are on decline on fears over the state of global economy. However, these three stocks are likely to stay up in the near term.
Table of Contents
Equities markets are experiencing an extended decline as concerns mount over the trajectory of the global economy. However, Rolls Royce, Shell and BP share prices are likely to experience positive returns in the near-term.
Rolls Royce
Rolls Royce share price took a beating on Monday as investors took profit following its rally to record highs. The stock is likely to resume the uptrend as the company’s strong fundamentals and orderbook will almost certainly safeguard the buying momentum. The company is preparing a £21.3m expansion of its Advanced Blade Casting Facility in Rotherham, UK, underlining its strong growth outlook.
Rolls Royce Share Price Prediction
Pivot: Rolls Royce share price pivots at GBX 740. Action above that level denotes bullish control.
Resistance: Initial resistance likely at GBX 762. Secondary resistance could come at GBX 789.4.
Support: First support at GBX 717, below which the upside narrative will be invalid. Second support level likely at GBX 700.
Shell
Oil prices have bumped up this week as US President Donald Trump’s threats of sanctions against Russia and Iran triggered concerns over potential supply-side disruption. The commodity is up by 1.2% on the daily chart, and this augurs well for Shell stock price.
However, concerns abound that the US economy could be staring at a slowdown, following weak jobs data released last week and Trump’s comments that the economy was in a “transition”-widely interpreted as euphemism for an impending recession. That could lead to a significant decline in the demand for crude oil put.
Shell Share Price Prediction
Pivot : EUR 30.45
Resistance: Primary resistance at EUR 30.85 . Breaking above that level could clear the path to test EUR 31.14.
Support: First support at EUR 30.21 The upside narrative will be invalid if the price breaks below that level. The resulting momentum could take the action lower to test EUR 30.00.
BP
BP share price will likely be up for the better part of the week as the commodity’s supply side faces potential disruption from the push and pull between the United States and oil-producing Iran and Russia.
Also, Russia’s Deputy Prime Minister Alexander Novak has added the upward tempo to oil price trajectory by stating that the OPEC+ oil cartel could reverse the earlier decision to ramp up production in April. That could provide support to BP stock price and offset the downward pressure caused by trade tariff fears.
BP Share Price Prediction
Pivot: GBX 409.30
Immediate resistance will likely be at GBX 422.80. Second resistance likely at GBX 435.20.
Support: First support will likely be at GBX 397.80 . Breaking below that level will invalidate the upside narrative, clearing the path to test GBX 394.85.
