Royal Dutch Shell (RDSB.L) 24-03-20
Will shares in Royal Dutch Shell (RDSB.L) continue to rally, setting new recent highs?
- Now trading at 1250.4p (at time of writing), the share price performance has been very strong.
- Will it end, or is this trend your friend?
- Could this be the ideal opportunity for momentum traders? It has bucked the general trend to trade positive over recent sessions.
- Whilst momentum has been strong, traders should remember that past performance is not necessarily an indication of the future.
- Technical traders should consider of new events, which can influence price action. Check our website and news outlets for updates.
- Shares -52% from 12-month highs; +36% from 12 month lows.
23 Mar: Royal Dutch Shell announced that it would end its share buyback policy and lower spending to reduce the impact of the coronavirus pandemic, alongside the heavy declines in the oil price.
19 Mar: Barclays Capital reiterates its equal weight rating on Royal Dutch Shell (RDSB) and reduced the target price to 1500p (from 2800p).
17 Mar: UBS reiterates its buy rating on Royal Dutch Shell (RDSB) and reduced the target price to 1800p (from 2450p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires