Royal Bank of Canada (RY): Elliott Wave Signals Strong Upside Toward $226

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.

Source: https://elliottwave-forecast.c...