THE TIPSTER
ENGINE-MAKER Rolls Royce has seen its shares rise some 140 per cent since their lows of March of last year and they had climbed in a strong bull channel to highs of 631p last month. But the stock has suffered from the recent sell-off, providing spread betters with an opportunity to jump in to the stock in anticipation of another move back towards the April highs.
The market-wide collapse on Friday saw it fall below 560p, which coincides with the bottom of the bull channel, spread betters should wait until the market stabilises before going long Spread Co offers 556.1p-557.4p.
Online gaming company 888 Holdings was featured in this column a couple of weeks ago as worthy of a sell at 87p. Since then the shares have plunged 24 per cent to lows of around 66p. It has found support at this level, which coincides with its all-time lows of late 2008. The sell-off may be overdone now though and it may be time to flip the trade around and start buying 888 Holdings. Spread Co has a spread of 66.55p-66.9p.
Kent-based housebuilder Bovis Homes updated the markets at the end of last week and sales are steadily improving in spite of uncertainty. Spreadex quotes 378.70p-381.90p.