RBC (RY:TSX) candlestick chart analysis

Near-term uptrend for RBC: Can it break $52.00?
Candlestick chart analysis for the royal Bank of Canada showing the near-term uptrend and major resistance athe the 200-day SMA

RBC Three Year Chart

Chart for the Royal Bank of Canada shows the near-term uptrend with resistance at the 200-day simple moving average of $52.00. If the stock can break and hold above $52.00 for two days, this point will become the new support level. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.

Please review my recent charts for RBC:

Relevant articles picked from the Web:


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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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