Royal Bank Of Canada Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Tuesday for Royal Bank Of Canada stock after gaining 0.649%
(Updated on Jun 25, 2024)
The Royal Bank Of Canada stock price gained 0.649% on the last trading day (Tuesday, 25th Jun 2024), rising from 105.48 Fr to 106.17 Fr. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.86% from a day low at 105.72 Fr to a day high of 106.63 Fr. The price has risen in 5 of the last 10 days and is up by 1.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 91 more shares were traded than the day before. In total, 290 shares were bought and sold for approximately 30.79 Fr thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.00% during the next 3 months and, with a 90% probability hold a price between 110.04 Fr and 118.99 Fr at the end of this 3-month period.
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0QKU.L Signals & Forecast
The Royal Bank Of Canada stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 104.07 Fr and 104.99 Fr. A breakdown below any of these levels will issue sell signals. Royal Bank Of Canada has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Royal Bank Of Canada stock
On the downside, the stock finds support just below today's level from accumulated volume at 98.93 Fr and 97.45 Fr. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Royal Bank Of Canada finds support just below today's level at 98.93 Fr. If this is broken, then the next support from accumulated volume will be at 97.45 Fr and 97.26 Fr.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.91 Fr between high and low, or 0.86%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: 101.71 Fr (-4.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (0QKU.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Royal Bank Of Canada to open at 106.17 Fr, and during the day (based on 14 day Average True Range), to move between 104.76 Fr and 107.57 Fr, which gives a possible trading interval of +/-1.40 Fr (+/-1.32%) up or down from last closing price. If Royal Bank Of Canada takes out the full calculated possible swing range there will be an estimated 2.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 106.20 Fr (0.03%) than the support at 98.93 Fr (6.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Royal Bank Of Canada stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Royal Bank Of Canada stock to perform well in the short-term.
Current score: 1.012 Buy Candidate Unchanged
Predicted Opening Price for Royal Bank Of Canada of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 106.17 Fr ( 0.0064%) | 106.17 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0QKU.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 107.08 | 0.86% |
| R2 | 106.73 | 0.536% |
| R1 | 106.52 | 0.334% |
| Price | 106.17 | |
| S1 | 105.82 | -0.321% |
| S2 | 105.61 | -0.524% |
| S3 | 105.26 | -0.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 108.11 | 1.83% |
| R2 | 106.33 | 0.155% |
| R1 | 106.20 | 0.0283% |
| Price | 106.17 | |
| S1 | 98.93 | -6.81% |
| S2 | 97.45 | -8.21% |
| S3 | 97.26 | -8.39% |
0QKU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2024 | Jul 25, 2024 | Aug 23, 2024 | 1.04 Fr | 1.00% |
| 2 | Apr 24, 2024 | Apr 24, 2024 | May 24, 2024 | 1.02 Fr | 0.96% |
| 3 | Jan 24, 2024 | Jan 24, 2024 | Feb 23, 2024 | 1.03 Fr | 1.05% |
| 4 | Oct 25, 2023 | Oct 25, 2023 | Oct 25, 2023 | 0.98 Fr | 1.25% |
| 5 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | 1.02 Fr | 1.04% |
FAQ
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