Royal Bank Of Canada today announced its latest quarterly results which failed to meet estimates both for revenue and earnings.

The stock opened the day at the same time as the market itself was set to plunge. The stock tumbled from Tuesdays close of $69.63 to an intraday low of $65.55 for a loss of 5.8%. This plunge set up the trade I entered this morning.

Royal Bank Of Canada Stock 12 Month Chart

The 12 month chart shows the continuing decline in Royal Bank Of Canada Stock. Since its high back in April of 2015 of $81.53, the stock has been in a steady decline. It is down 19.6% to today’s intraday low of $65.55. Theref are though signs that the decline may be coming to an end for this bank stock.  Since the start of this year the RY Stock chart pattern has changed to sideways with no new lower low which often is indicative of a bottoming process.

Royal Bank Of Canada Stock

Royal Bank Of Canada Stock

 

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Royal Bank of Canada Stock Trade Alert

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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.

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