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Shares of Royal Bank of Scotland Under Pressure, Down 2.4%

Published on Mon, 03/04/2013 - 11:18
By Adrienne Chilton

Royal Bank of Scotland (NYSE:RBS) is one of today's biggest movers, down 2.4% to $9.26. The Dow Jones Industrial Average is now trading 0.3% lower to 14,056 and the S&P is trading fractionally lower to 1,517.

Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and offers commercial banking services. The bank offers business term loans, commercial mortgages, professional practice loans, asset finance and invoice finance loans, residential mortgages, consumer loans, credit cards, financial planning services, and life, personal lines, and income protection insurance.

In the past 52 weeks, shares of Royal Bank of Scotland have traded between a low of $6.01 and a high of $11.84 and are now at $9.26, which is 54% above that low price. The 200-day and 50-day moving averages have moved 0.76% higher and 0.41% higher over the past week, respectively.

Royal Bank of Scotland has overhead space with shares priced $9.26, or 34.5% below the average consensus analyst price target of $14.13. Royal Bank of Scotland shares should encounter resistance at the 50-day moving average (MA) of $10.84 and support at its 200-day MA of $8.57.

By Adrienne Chilton