After a recent market scan, we have noted that Royal Bank of Canada (NYSE:RY) shares have been trading near 52-week lows. Traders will be intently watching to see if the stock bounces back or continues to drift lower. Shares were recently seen at the 70.32 level, which is currently 6.93% away from the 52-week low price. Shifting gears, we can see that the stock’s current beta value is 1.04. A positive beta would suggest that the stock follows the market. A negative beta means that the stock inversely follows the market. A beta of 0 would indicate that the price is not correlated with the market.
Although the investing process is fairly straightforward, securing consistent returns in the stock market is not easy. Throwing hard earned money at un-researched investments can eventually lead the investor down the road to ruin. Every individual investor may have different goals when starting out. Aligning these goals with a specific plan can create a solid foundation for the future. Nobody can predict what the future will hold, but being aware of market conditions can be a great asset when attempting to navigate the terrain while mitigating risk. Once the vision of the individual investor is clear, the road to sustaining profits may be much easier to travel.
Focusing on Street analyst opinions, we can see that the current consensus target price on company shares is $88.28. Moving over to the consensus broker rating, we see the number is 2.20. This rating uses a scale where a 1 or a 2 would indicate a consensus Buy recommendation. A rating of 4 or 5 would indicate a consensus Sell recommendation. A rating of 3 would represent a Hold recommendation.
Checking in on the RSI or relative strength index for Royal Bank of Canada (NYSE:RY), we have noted that the current 14-day level is 52.50. The RSI is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. RSI may be used to identify overbought or oversold conditions. An RSI reading above 70 would be considered overbought, and a value under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum.
At current stock price levels, Royal Bank of Canada (NYSE:RY) shares are trading -7.45% away from the 200-day moving average. Focusing on some other popular MA time-frames, we can see that the stock is trading -1.46% away from the 50-day MA and 1.35% away from the 20-day MA.
Over the last quarter, shares have performed -12.32%. For the last month, shares have performed -4.64%. Zooming in to the last week, company shares are 3.23%. Over the past full-year, Royal Bank of Canada (NYSE:RY)’s stock has been -15.11%. Since the beginning of the calendar year, company shares have performed 2.63%. Investors will be waiting to see if shares see a turnaround in the next few weeks. As the stock nears 52-week lows, investors may be rapidly trying to figure out the next move.
As company earnings reports continue to roll in, investors will be watching to see which companies hit their numbers for the last reporting period. Investors will also be watching which sectors are reporting the best earnings numbers. A positive overall earnings season could mean that the stock market could keep climbing. Many investors may be cautious with the market trading at current levels. Even though the gloom and doom prognosticators are out in full force, investors have to do the research and decide for themselves which way they believe the market will move in the next couple of months.
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