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 is trading at all time high & pullback in 3, 7 or 11 swings should provide buying opportunity against April-2025 low. Above April-2025 low, it should continue rally in ((3)) of III in impulse targeting in to $156.3 - $187.2 area.
RY - Elliott Wave Latest Weekly View: 
It ended (II) at $49.55 low in March-2020 & favors rally in III of (III). It ended I at $119.41 high in January-2022 & II at $77.90 low in October-2023 low as 0.618 Fib retracement. Within I, it ended ((1)) at $78.31 high, ((2)) at $67.78 low, ((3)) at $108.09 high, ((4)) at $98.00 low & ((5)) at $119.41 high. Within II pullback, it placed ((W)) at $83.63 low, ((X)) at $104.72 high & ((Y)) at $77.90 low as double correction. Above II low, it placed ((1)) at $128.05 high in December-2024 high & ((2)) at $106.10 as zigzag in April-2025.
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. Within ((2)) pullback, it placed (A) at $117.63 low, (B) at $124.35 high & (C) at $106.10 low. It made all time high in (1) of ((3)) since April-2025 low. It expects small upside in (1) before correcting in to (2) in 3, 7 or 11 swings. Buyers can look for next opportunity in (2) at extreme area as long as the pullback stays above $106.10 low. The ((3)) of III can extend towards $156.3 - $187.2 area against April-2025 low. It needs to erase the momentum divergence in (3) rally to confirm the more upside. Alternatively, if it breaks below $106.10 low, it can be flat in ((2)) pullback.
Source: https://elliottwave-forecast.com/stock-market/royal-bank-canada-ry-hits-new-highs-next/
Comments
Log in or sign up to join the conversation.