RY Stock: Rapid Rise From Canada’s Largest Bank
RY Stock price today is 127.08 USD with a volume of 2.925.419. At the same time, its chart fluctuates between 126.69 USD – 128.72 USD. RY Stock price was a maximum of 128.72 USD and a minimum of 90.55 USD within 52 weeks. Its average volume is 4.044.814 and it is ranked 181.102B in the MarketCap listings. The target point of RY Stock price at the end of 1 year is 137.09 USD. EPS of the stock is 9.84 and the dividend yield of the share is 4.32. Its book value per share is 49,31.
RY stock price fell 0.47% from $127.68 to $127.08 in the last day. During the day, the stock fluctuated 0.31% from $126.69 to the daily high of $127.08. The price is moving up and down for this period. However, in general, there has been an increase of 0.76% in the last 2 weeks.
Volume increased by 690,000 shares in the last day despite falling prices. The opposite movement of volume and price is not a good technical analysis result. It can also be an early warning and increase the risk. In total, investors traded 3 million shares for approximately $374.96 million.
The stock is at the top of a tight, strong uptrend in short-term trading. This is where we expect a reaction to the bottom of the trend, so this could be a very good selling opportunity for traders who are shorting the stock.
A breakout of the top trend line at $127.88 is in sight. Considering the current short-term trend, we can see a 10.85% rise for RY stock in the next 3 months and this stock could be priced between $137.01 and $141.75 at the end of the 3-month period.
Royal Bank of Canada
Royal Bank of Canada is a Canadian multinational financial services company. When we evaluate it according to its market value, we can qualify it as Canada’s largest bank. The bank has more than 16 million customers and employs more than 86,000 people worldwide.
They founded the company in 1864 in Halifax, Nova Scotia. The company’s headquarters are in Toronto and its head office is in Montreal.
The company serves nearly ten million customers through a network of 1,209 branches. RBC Bank previously operated 439 branches in six states in the Southeastern United States. But now it only offers cross-border banking services to Canadian travelers and immigrants.
RBC also has 127 branches in the Caribbean. RBC Capital Markets is RBC’s worldwide investment and corporate banking subsidiary. RBC Bank also provides investment banking services. The focus of the company is middle-market customers.
In 2011, RBC was the largest Canadian company by revenue and market capitalization. It was also ranked 50th in the 2013 Forbes Global 2000 list. The company has operations in 36 different countries, including Canada.
Analysis of RY Stock
RY stock has mixed signals today. A sell signal was issued from the pivot apex on June 16, 2021. On top of that, it has dropped 0.47% so far. We can continue to observe the bearish move until we see a new low pivot point.It also currently has a sell signal from the 3-month Moving Average Convergence Divergence.
Volume rose despite falling prices yesterday. The opposite direction of volume and price movement is not a good technical analysis result. This serves as an early warning. Therefore, we should observe the stock better and more closely.
RY stock is holding buy signals in both short and long-term trading which gives a positive forecast for the stock. Also, short-term trades are above long-term trades. So it also has a general buy signal from the relationship between the two signals.
On the downside, there might be some support at $126.32 and $123.19. A break below any of these levels is a sell signal.
Should You Buy?
The stop-loss recommended by analysts is $123.27. This stock experiences low daily fluctuations. For this reason, it is defined as a low-risk investment. With its good trend and few short-term positive signals it has, RY Stock has a good buying opportunity below the current level.