ROYAL BANK OF CANADA (RY) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:RY - CA7800871021 - Common Stock
We assign a technical rating of 10 out of 10 to RY. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RY is showing a nice and steady performance.
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.
More info and screens
120.14
4 important support areas can be observed.
- A support zone ranging from 157.06 to 159.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @152.56 from a trend line in the weekly time frame.
- A support zone ranging from 143.99 to 145.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @121.35 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 170.96 to 173.12. 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 | UP | POSITIVE | The short term trend for RY is up. |
| ChartMill Relative Strength | 87.04 | POSITIVE | RY has a high relative strength, it outperformed 87.04% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RY is above the rising 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) | 61.94 | NEUTRAL | The RSI value for RY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.75 | NEGATIVE | The MACD value suggests RY has a negative trend. |
| Stochastics (14,3) | 48.65 | NEUTRAL | The Stochastics value for RY is a neutral value. |
| Average True Range in percent/ATR (20) | 1.18 | LOW VOLATILITY | The low ATR as a percentage value for RY suggests low volalility. |
| Average Directional Index/ADX (14) | 56.21 | POSITIVE | The high ADX value value for RY suggests a strong trend. |
169.55
+0.39 (+0.23%)
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 10 / 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 61.9354. 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 positive.
What is the buy/sell signal for ROYAL BANK OF CANADA (RY) stock?
The buy/sell signal for ROYAL BANK OF CANADA (RY) is buy as both the short term and long term trends are positive.