Royal Bank of Canada., (RY) operates as diversified financial service company worldwide. It operates through personal finance, commercial banking, wealth management & Insurance segments. It comes under Financial services sector & trades as “RY” ticker at NYSE.
RY favors nesting within October-2023 sequence, while dips remain above $156.91 low. Above March-2026 low, it should continue rally in (3) of ((3)), which confirms once momentum divergence erased.
Since March-2020 low as (II), it started rally in (III) in weekly. It placed I of (III) at $119.41 high in January-2022 & II at $77.90 in October-2023 low. Above there, it ended ((1)) of III at $128.05 high, ((2)) at $106.10 low & favors rally in ((3)) as nest from April-2025 low. Within ((1)), it ended (1) at $176.19 high & proposed ended (2) at $156.91 low as shallow pullback. In (1), it placed 1 at $149.26 high, 2 at $143.13 low, 3 at $174.61 high, 4 at $164.95 low & 5 at $176.19 high.
RY - Elliott Wave Latest Weekly View:
Further rally in (3) will confirm, when it breaks above $176.19 high. Until then it can still do double correction in (2), if breaks below $156.91 low to correct against April-2025 low. We like to buy the pullback, if doing double in (2) at extreme area. The next rally in (3) can extend towards $226.8 or higher in weekly. Alternatively, it can extend towards $180.7- $188.1 area to finish five swings in ((1)) from October-2023 low before correcting in ((2)). In either the case, investors can look for buy in dips if reach extreme area.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now