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.
The RY continue rally within ((3)) impulse in sequence from April-2025 low as per last article. Short term, it should continue rally into $222.9 - $238.45 area before pullback start. 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. It ended ((1)) of III at $128.05 high, ((2)) at $106.10 low & favors rally in ((3)) against April-2025 low.
RY - Elliott Wave Latest Weekly View:
Within ((1)), it ended (1) at $102.07 high, (2) at $93.97 low, (3) at $126.96 high, (4) at $120.26 low & (5) at $128.05 high. It ended (A) of ((2)) at $117.63 low, (B) at $124.35 high & (C) at $106.10 low. Above there, in ((3)), it ended (1) at $176.19 high, (2) at $156.91 low, (3) at $218.57 high, (4) at $200.85 low & favors rally in (5) above $222.91. Buyers should remain in control for short term rally to finish (5) as ((3)) to end April-2025 rally before correcting next. Short term, if it breaks below $200.85 low, it can do double correction against March-2026 low, which provides next long set up. The next long opportunity will be ((4)) pullback in 3, 7 or 11 swings, when reach extremes.
Comments
Log in or sign up to join the conversation.