ROYAL BANK OF CANADA (RY)       98.64  -2.26 (-2.24%)

98.64  -2.26 (-2.24%)

CA7800871021 - Common Stock - After market: 98.64 0 (0%)

Technical Rating

8

Taking everything into account, RY scores 8 out of 10 in our technical rating. Although RY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.



The long and short term trends are both positive. This is looking good!
In the last month RY has a been trading in the 90.32 - 101.43 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that RY is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
RY is part of the Banks industry. There are 317 other stocks in this industry, RY did better than 53% of them.
RY is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 6.93% 5.34% -5.85% -1.57% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 78.3 83.63 - 119.41
RY Weekly chart
RY Daily chart

Support/Resistance Analysis


86.93

101.91
We found 2 important support areas.
  • A support zone ranging from 96.10 to 97.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 87.81 to 88.36. This zone is formed by a combination of multiple trend lines in the weekly time frame.
We found 1 important resistance area.
  • A resistance zone ranging from 99.51 to 100.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

Setup Analysis

Setup Rating

6

RY has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
100.9197.533.38 (3.35%)25.00%
An entry @100.91. This is a Buy Stop order right above the resistance zone.An exit @97.53. This is a Stop Loss order right below the 10 day low.The trade has a worst case loss of 3.38 points, which is 3.35%.For a 0.84% total portfolio risk, you can invest 25.00% of your capital in this trade.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
RY Daily chart

ROYAL BANK OF CANADA98.64

NYSE:RY (11/28/2022, 7:17:28 PM)-2.26 (-2.24%)

After market: 98.64 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Financials
GICS Industry Banks
Performance
Today -2.24% 1 Week -0.49%
2 Weeks -0.64% 1 Month 6.93%
3 Month 5.34% 6 Month -5.85%
Volatility
ATR(14) 1.66 ATR(20)% 1.75%
ATR Inc -18.06% Range Today 2.29
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 78.3 Mansfield 0.14
10 Day High 101.43 10 Day Low 97.54
20 Day High 101.43 20 Day Low 90.32
52 Week High 119.41 52 Week Low 83.63
CS1 End 97.01 CR1 Start 99.51
Volume & EV
DER(3) 1.28% DER(5) 1.63%
Volume 736.50K Volume Incr -28.36%
Vol(5) 530.78K Vol(50) 776.27K

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