ROYAL BANK OF CANADA (RY)

CA7800871021 - Common Stock

100.88  +0.48 (+0.48%)

After market: 101 +0.12 (+0.12%)

Technical Rating and Analysis

7

We assign a technical rating of 7 out of 10 to RY. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, RY is only an average performer.

Both the short term and long term trends are positive. This is a very positive sign.
RY is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
RY has an average volume of 1251010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, RY turns out to be only a medium performer in the overall market: it outperformed 45% of all stocks.
RY is part of the Banks industry. There are 415 other stocks in this industry, RY did better than 55% of them.
In the last month RY has a been trading in a tight range between 96.56 and 101.50.
Volume is considerably higher in the last couple of days.
Weekly and Daily overview Charts
RY Weekly chart
RY Daily chart
Setup Rating and Analysis

9

RY has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 101.13. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 100.30, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
Support and Resistance Analysis

93.75

105.82

When analyzing the support we can see 2 important areas.

  • A support zone ranging from 97.33 to 100.30. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @94.70 from a horizontal line in the daily time frame.

We can see 2 important resistance areas.

  • A resistance zone ranging from 101.13 to 101.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @104.77 from a horizontal line in the weekly time frame.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS45.32
Mansfield-0.73
10 Day High101.5
10 Day Low98.23
20 Day High101.5
20 Day Low96.56
52 Week High102.07
52 Week Low77.9
Performance
1 Week0%
2 Weeks1.12%
1 Month3.91%
3 Month-0.25%
6 Month15.37%
12 Month5.55%
2 Year-8.52%
3 Year9.4%
5 Year33.53%
10 Year52.87%
15 Year248.82%
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0.04
RSI(14)59.63
LBB98.52
UBB101.4
Example Setup

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.

ENTRYEXITDISTANCECAPITAL
101.9698.223.74 (3.67%)25.00%
An entry @101.96. This is a Buy Stop order right above the resistance zone.An exit @98.22. This is a Stop Loss order right below the 10 day low.The trade has a worst case loss of 3.74 points, which is 3.67%.For a 0.92% 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 CANADA

NYSE:RY (3/28/2024, 8:04:00 PM)

After market: 101 +0.12 (+0.12%)

100.88

+0.48 (+0.48%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.48%
1 Week0%
2 Weeks1.12%
1 Month3.91%
3 Month-0.25%
6 Month15.37%
12 Month5.55%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)1.25
ATR(20)%1.2%
ATR Inc
Range Today1.07
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High101.5
10 Day Low98.23
20 Day High101.5
20 Day Low96.56
52 Week High102.07
52 Week Low77.9
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume594.60K
Volume Incr108.47%
Vol(5)1.85M
Vol(50)1.25M