Insurance Technology Industry News

TMCNet:  Downgrade Alert for Royal Bank of Canada (RY)

[November 30, 2012]

Downgrade Alert for Royal Bank of Canada (RY)

Nov 30, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Royal Bank of Canada (NYSE:RY) was downgraded from Buy to Neutral at UBS today. The stock closed yesterday at $58.98 on volume of 596,000 shares, above average daily volume of 521,000. Royal Bank of Canada is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services. Royal Bank offers its services to personal, business, public sector and institutional clients with operations worldwide.

There is potential upside of 2.9% for shares of Royal Bank of Canada based on a current price of $58.96 and an average consensus analyst price target of $60.65. The stock should find initial support at its 50-day moving average (MA) of $57.34 and further support at its 200-day MA of $54.56.

Over the past year, Royal Bank of Canada has traded in a range of $42.43 to $59.83 and closed yesterday at $58.96, 39% above that low. The 200-day and 50-day moving averages have moved 0.16% higher and 0.37% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Royal Bank of Canada. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Royal Bank of Canada in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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