Royal Bank of Scotland (NYSE:RBS)

Q: I was scrolling through some reports on Royal Bank of Scotland and noticed your name..."write to cbrian"......

I, therefore, take the liberty of asking where I can find updated info on RBS.N which I have owned for some time, probably a mistake.
Any info you can give me will be appreciated.
Thanks
William

A: We issued an Uptrend for RBS on April 17th (at $9.71) and, as is the case with many banks, has stayed in a general Uptrend since that time period.  However, in recent weeks the stock has been in a sideways trading range, bouncing on the 50-day moving average.  The 200-day moving average has declined rapidly as a result and as these two averages converge, the likelihood of a break up or down increases so that will be important for you to watch.  If RBS can break above the 200-day average then look for a retest of the last recent top around $14.  $20 will be the next resistance level after that which will be much tougher.  Bank earnings this week will likely be a major catalyst.