Royal Bank of Canada - (12/27/21)

Chart of the Day:

Royal Bank of Canada

(RY, TSE)

ACB: ~ 129.40

Stop: 124

• RY has seen 5 yr earnings growth of ~11% accelerate to ~ 40% over the last 12 months. 

• Banks are positioned well but would benefit from a steepening yield curve.

• RY has been consolidating but broke out of its range set by the August high close at $133.15.

• The shares are trading above all moving averages and are breaking out to new highs. Looking to see if a new uptrend can continue.