Recently announced a profit warning saying profits could fall 50% next year. The problem is they are unhedged on fuel for next year, and they state if oil remains at $85 RYA will suffer. The P/E is 12.55, falling to 11.15 next year if we see no more downgrades. There is 0% yield to support the price, which has fallen from 625 to 348.
Looking at the chart RYA are in a very pronounced bear channel, I believe resistance would be the last lower high at 405, with no obvious support apart from the lower line in bear channel 300?. Share is trying to recover now from 350 to 363 today, if it fails to break the 405 resistance and reverses I believe this would be a short signal.
Any views welcome.