Royal Bank of Canada: The Winning Streak Continues (RY)
Royal Bank of Canada (NYSE:RY) traded today at a new 52-week high of $61.66. Approximately 164,000 shares have changed hands today, as compared to an average 30-day volume of 571,000 shares.
There is potential upside of 2.2% for shares of Royal Bank of Canada based on a current price of $61.56 and an average consensus analyst price target of $62.90. The stock should discover initial support at its 50-day moving average (MA) of $58.51 and subsequent support at its 200-day MA of $55.33.
Over the past year, Royal Bank of Canada has traded in a range of $46.80 to $61.66 and is now at $61.56, 32% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.
Royal Bank of Canada is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services. Royal Bank offers its services to personal, business, public sector and institutional clients with operations worldwide.
SmarTrend recommended that subscribers consider buying shares of Royal Bank of Canada on November 20th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.17. Since that recommendation, shares of Royal Bank of Canada have risen 7.4%. We continue to monitor RY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows royal bank of canada