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Royal Bank of Canada: 52-Week High Recently Eclipsed (RY)

Published on Fri, 02/01/2013 - 15:32
By Robert Cotter

Royal Bank of Canada (NYSE:RY) traded at a new 52-week high today of $62.77. Approximately 299,000 shares have changed hands today, as compared to an average 30-day volume of 459,000 shares.

Royal Bank of Canada (NYSE:RY) has potential upside of 0.9% based on a current price of $62.74 and analysts' consensus price target of $63.32. The stock should discover initial support at its 50-day moving average (MA) of $60.50 and subsequent support at its 200-day MA of $55.74.

Royal Bank of Canada is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services. Royal Bank offers its services to personal, business, public sector and institutional clients with operations worldwide.

Royal Bank of Canada share prices have moved between a 52-week high of $62.77 and a 52-week low of $46.80 and are now trading 34% above that low price at $62.74 per share. The 200-day and 50-day moving averages have moved 0.22% higher and 0.93% higher over the past week, respectively.

By Robert Cotter
rcotter@fnno.com