Royal Bank Of Canada Technical Analysis (NYSE:RY)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Royal Bank Of Canada stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the RY stock chart which creates a trading signal.
See Royal Bank Of Canada bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. Technical analysis is used by finance professionals and is popular among traders, especially day traders. Undertaking Royal Bank Of Canada stock analysis using these technical indicators helps identify trading opportunities.
Royal Bank Of Canada Moving Average:
Moving averages show the average price of RY stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $73.69 is below the price of $75.57.
Royal Bank Of Canada Bollinger Bands:
Bollinger bands comprise of a center line usually RY SMA, and two RY stock price bands above and below it. The stock is considered over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the lower band in the context of Royal Bank Of Canada bollinger bands.
Royal Bank Of Canada Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Royal Bank Of Canada MACD indicator can be used to identify bullish and bearish trends for the stock.
Royal Bank Of Canada Relative Strength Index:
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. 82.38 is the RSI value of RY stock. .