Royal Bank of Canada Stock Forecast
Royal Bank of Canada stock price ended at $133.47 on Thursday, after gaining 0.120%.
(Updated on Apr 25, 2024)
The Royal Bank of Canada stock price gained 0.120% on the last trading day (Thursday, 25th Apr 2024), rising from $133.31 to $133.47. During the last trading day the stock fluctuated 1.66% from a day low at $131.57 to a day high of $133.75. The price has risen in 6 of the last 10 days but is still down by -2.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 539 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $1.24 billion.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $133.77. A reaction back to this level may hold a second chance to get out before further falls.
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RY.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.270%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Royal Bank of Canada stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $134.36 and $135.55. A break-up above any of these levels will issue buy signals. 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
Royal Bank of Canada finds support from accumulated volume at $132.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.18 between high and low, or 1.66%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: $125.02 (-6.33%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (RY.TO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Royal Bank of Canada to open at $132.93, and during the day (based on 14 day Average True Range), to move between $131.62 and $135.32, which gives a possible trading interval of +/-$1.85 (+/-1.39%) 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 2.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $132.99 (0.36%) than the resistance at $134.57 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Royal Bank of Canada stock A Buy?
Royal Bank of Canada holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.818 Hold/Accumulate Unchanged
Predicted Opening Price for Royal Bank of Canada of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$132.93 ( 0.405%) | $133.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RY.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 135.11 | 1.23 % | |
R2 | 134.28 | 0.605 % | ||
R1 | 133.76 | 0.219 % | ||
Current price: | 133.47 | |||
Support | S1 | 132.10 | -1.03 % | |
S2 | 131.58 | -1.41 % | ||
S3 | 130.75 | -2.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 135.93 | 1.84 % | |
R2 | 134.99 | 1.14 % | ||
R1 | 134.57 | 0.82 % | ||
Current price | 133.47 | |||
Support | S1 | 132.99 | -0.360% | |
S2 | 132.32 | -0.86% | ||
S3 | 131.94 | -1.15% |
RY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Apr 25, 2024 | May 24, 2024 | $1.38 | 1.03% |
2 | Feb 28, 2024 | Apr 24, 2024 | May 24, 2024 | $1.38 | 1.03% |
3 | Nov 30, 2023 | Jan 25, 2024 | Feb 23, 2024 | $1.38 | 1.04% |
4 | Nov 30, 2023 | Jan 24, 2024 | Feb 23, 2024 | $1.38 | 1.04% |
5 | Oct 25, 2023 | Oct 25, 2023 | Nov 24, 2023 | $1.35 | 1.13% |
FAQ
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