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SmarTrend Watching for Potential Rebound in Shares of Royal Bank of Canada After 1.36% Loss

By David Diaz

Royal Bank of Canada (NYSE:RY) traded in a range yesterday that spanned from a low of $70.05 to a high of $70.41. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $70.46 on volume of 425,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Royal Bank of Canada share prices have moved between a 52-week high of $76.01 and a 52-week low of $44.37 and are now trading 58% above that low price at $70.21 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend is tracking the current trend status for Royal Bank of Canada and will alert subscribers who have RY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders royal bank of canada

Ticker(s): RY