ROYAL BANK OF CANADA (RY) Technical Analysis
NYSE:RY • CA7800871021
Overall RY gets a technical rating of 6 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- In the last month RY has a been trading in the 160.67 - 174.84 range, which is quite wide. It is currently trading near the lows of this range.
- Looking at the yearly performance, RY did better than 83% of all other stocks. On top of that, RY also shows a nice and consistent pattern of rising prices.
- RY is part of the Banks industry. There are 381 other stocks in this industry. RY outperforms 90% of them.
- RY is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so RY is performing more or less in line with the market.
- RY has an average volume of 1380940 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
RY has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 167.97. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 162.96, a Stop Loss order could be placed below this zone.
More info and screens
118.41
4 important support areas can be observed.
- A support zone ranging from 162.96 to 162.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @159.91 from a trend line in the daily time frame.
- Support @123.70 from a trend line in the weekly time frame.
- Support @119.61 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 167.97 to 175.47. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for RY is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for RY is down. |
| ChartMill Relative Strength | 83.87 | POSITIVE | RY has a high relative strength, it outperformed 83.87% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RY is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of RY is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 38.31 | NEUTRAL | The RSI value for RY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.66 | NEGATIVE | The MACD value suggests RY has a negative trend. |
| Stochastics (14,3) | 26.75 | NEUTRAL | The Stochastics value for RY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.07 | MEDIUM VOLATILITY | The ATR as a percentage value for RY suggests some volalility. |
| Average Directional Index/ADX (14) | 18.28 | NEGATIVE | The low ADX value for RY suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 165.26 | 162.95 | 2.30 (1.39%) | 25.00% |
| An entry @165.25. This is a Buy Stop order right above the 10 day moving average. | An exit @162.95. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.30 points, which is 1.39%. | For a 0.35% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of RY. Please evaluate whether better entry and exit points can be found.
- 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 Technicals: Chart, Performance Metrics, Trend & Indicators
162.97
-2.03 (-1.23%)
ROYAL BANK OF CANADA / RY FAQ
What is the ChartMill technical rating of ROYAL BANK OF CANADA (RY) stock?
ChartMill assigns a technical rating of 6 / 10 to RY.
Can you provide the trend direction for ROYAL BANK OF CANADA?
The current trend direction for ROYAL BANK OF CANADA (RY) is Bullish.
What is the RSI signal for ROYAL BANK OF CANADA (RY) stock?
ROYAL BANK OF CANADA (RY) has an RSI value of 38.3142. This indicates that the stock is currently neutral.
What is the short term momentum for ROYAL BANK OF CANADA (RY) stock?
The short term momentum for ROYAL BANK OF CANADA (RY) is negative.
What is the buy/sell signal for ROYAL BANK OF CANADA (RY) stock?
The buy/sell signal for ROYAL BANK OF CANADA (RY) is hold as the short term and long term trends are mixed.