if we break the level of 83.76 we have a high probability of falling until 79.27
RBC $RY large head and shoulders pattern forming, as the correction in September 2011 and January 2016 formed the base for the left shoulder. While the rally from 2016 to 2018-2019 formed the head of the top. Looking for RY to retrace to the base at $44 by March 2020. Short term retrace to lows of December 2018.
Banks are the key to understand early financial market problem, this time it is a combination between COVID19 and inflation as well as over due market correction. The magnification is very STRONG in nature and it will lead to a history record recession. Back to the stock; if March 2020 did not see a good bull back, the orange line will be our only support....
Short, I feel sad for the worldwide economy :(
If we take a look at the RSI and the price action at the hourly we can see several points of bullish divergence as well as on the MACD histogram in addition to its bullish uptick and potential crossover. If we take a closer look at the 15 minute chart we can also see an RSI bullish divergence as well has the MACD bulish divergence and if you look at the MACD...
Every day I pick a few stocks - the most undervalued stocks in AMEX, NYSE & NASDAQ with lowest RSI and other technical analysis (200-day moving average action and volume change), to trade for the next day. Charts for RY is looking great for a 1-day long play (for tomorrow) More Details: youtu.be
I predict we will hit ATH (above $87.50) by Christmas 2019, and head another 5% higher after that (PT of $92.50, then $100 by mid-march 2020). We've quite obviously been in an expanding triangle since February of 2019, and are now just breaking out of it, and will obviously fill that $83.40 gap likely this week. Looking at the broader US financial sector, we're...
thats right i said it it's technical analysis
Green line is CA10Y bond minus the average of the 5,2,1 and 3 month.
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking; Wealth Management; Insurance; Investor and Treasury Services; Capital Markets; and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services...
Looking to go long if we break above $81.50
Confirmation: 103.60 Invalidation: Local high Type of Trade: Countercyclical (EMA50 above EMA200) Target: 92.19 TF:4HR Leverage: 2x Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
Watching for a move up here coming into earnings. Typically don't hold through earnings.
RY has filled a gap created back at the beginning of 2018 and we also see a potential large double top formation on the daily and weekly timeframes that is being formed by rejection. This is an opportunity to position short for a new downtrend on the lower timeframes, looking for support on the 8/1 Gann and as low as the 4/1 Gann. On the larger timeframe, don't...