Confirmed breakout for RBC at $55.00
The reversal of roles is an important concept in technical analysis: $55.00 was resistance and it is now the new support level.
Reference previous charts for RBC Royal Bank:
- Two breakaway gaps on the candlestick chart for RBC — Dec 2, 2011
- RBC chart analysis showing a bullish shaven head candlestick — Nov 30, 2011
- Royal Bank of Canada chart analysis indicates a bottom — Nov 11, 2011
Review the RBC Royal Bank website for the fundamental data..
Relevant articles picked from the Web:
- Canadian bank earnings may be ‘as good as it gets’ — FP — May 25, 2012
- Canada’s big banks facing credit risks, Fitch warns — FP — May 22, 2012
- Canadians dominate world’s 10 strongest banks — Financial Post — May 3, 2012
- RBC upgraded, more dividend hikes expected — Financial Post — March 2, 2012
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.
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