Technical Analysis: RY's current price at $118.76 shows a bearish trend in the short term, with RSI-14 at 43.86 indicating neutral to slightly oversold conditions. The stock is trading below its 20-day SMA ($120.50) but above its 200-day SMA ($115.40), suggesting a short-term pullback within a longer-term uptrend.
Price Targets for Next Week (Feb 18-23, 2025):
News Impact: Recent positive developments include:
Price Prediction: Based on technical indicators and recent news:
Rationale:
The stock is likely to consolidate within the Fibonacci levels next week, with limited downside risk due to strong fundamental support from digital banking initiatives.
The price of RY is predicted to go up 5.09%, based on the high correlation periods with EIG. The similarity of these two price pattern on the periods is 91.4%.
RY
EIG
Year
RY Price Forecast($)
Potential Return(%)
2025
120.430
0.000
2026
135.000
10.720
2027
150.000
23.020
2028
145.000
18.920
2029
160.000
31.220
2030
160.000
31.220
Royal Bank of Canada's worldwide scope in capital markets and wealth management provides a powerful and diversified stream of revenue. This should lead to outsize fee income versus peers.
The strength in its Canadian banking business, where returns on equity exceed 30%, should continue for some time.
RBC's latest expansion into the U.S. high-net-worth and commercial banking space should provide additional high-margin growth for the bank.