One week ago Royal Bank of Canada (NYSE:RY) was downgraded from Buy to Neutral at UBS. The stock closed at $59.01, which is essentially the same as the price one week ago ($58.96).
In the past 52 weeks, Royal Bank of Canada share prices have been bracketed by a low of $45.96 and a high of $59.83 and are now at $59.70, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.
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.
There is potential upside of 1.6% for shares of Royal Bank of Canada based on a current price of $59.70 and an average consensus analyst price target of $60.65. The stock should discover initial support at its 50-day moving average (MA) of $57.34 and subsequent support at its 200-day MA of $54.56.