Royal Bank of Canada – RBC – chart analysis

Two breakaway gaps on the candlestick chart for RBC
Royal Bank of Canada - RBC - candlestick chart analysis showing two breakaway gaps. The last gap appeared after the earnings release. The chart shows three simple moving averages. The intermediate trend is down and the near-term trend is up. The resistance level is $50.00. Three was above average volume for the last gap after the earnings release. The relative strength indicator known as RSI is confirming the near-term uptrend for the Royal Bank of Canada. RBC is traded on the Toronto stock exchange under the symbol (RY:TSX). This is the largest bank in Canada.

RBC Six-Month Daily Candlestick Chart Analysis

Reference two previous charts for RBC:

Key points from the above chart analysis are:

  • The intermediate trend (three weeks to six months) is still down.
  • The near-term trend (less than three weeks) is up.
  • RBC is trading above the three simple moving averages.
  • The 10-day SMA is crossing the 20-day SMA.
  • Volume is increasing with the near-term uptrend.
  • RSI is confirming the near-term uptrend.
  • Two breakaway gaps bode well for the uptrend.
  • The last gap (window) should provide support ($48) on any pullback.
  • The near-term resistance level is around $50.00.
  • You must take into account the trend for the overall market – TSX Index.
  • The intermediate trend for the TSX Index is down.


When you trade the markets, you are dealing with probabilities.  What is the probability of the the near-term uptrend continuing for RBC?

Relevant articles picked from the Web:


The main purpose of is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.


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 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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