ROYAL BANK OF CANADA
Technical Viewpoint: From a low
of $42.01 on Aug 26, 2008 prices
rallied, reaching a
high of $47.50
on Sep 8, 2008. A
decline saw prices pull back, reaching a
$40.90 on Sep 17, 2008.
Another rally saw prices penetrate
resistance, closing 9/21/08
at $48.65. Technicals: MACD Index (MACD): A Buy Alert!
was given on Sep 19, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $42.00. Resistance: Is at $49.48.
Point & Figure: Reversed to the upside on Sep 18, 2008. A P&F upside
reversal takes place at $45.00. Summary: Technical indicators have turned bullish. BUY! ROYAL BANK OF CANADA
(RY-NYSE) @ $49.13 Stop: Use a protective stop of $47.13.
ROYAL BANK OF CANADA is currently trading @ $48.65 plus $3.55 on Sep 21, 2008. Price Objective:
$59.50. Risk/Reward: $2.00 VS. $10.37. Today's Risk Reward Ratio: 5:1
Daily Candle Stick Chart
Point & Figure Chart
View full size chart
$2.00 VS. $10.37