Royal Bank of Canada has confirmed a Diamond Top pattern on the weekly, along with a breaking of the Moving Average. Upon breaking down, I think it will start a move down all the way to the 88.6% Retrace, likely near $46. Since the Diamond is a Neutral pattern and we have not gotten an official breakdown yet, I will still be on the lookout for a breakout in the...
Pretty clear pattern on ZEB here. Strong support with potential 9% upside. Plus collecting 4.5% dividend along the way!
Big 6 Canadian Banks Since Sept 2 2008.
Big 6 Canadian Banks Since Sept 2 2008
Looking at Big 6 Canadian Banks daily numbers since Jan 2 2019.
Looking at the performance of the Canadian big 6 (Big 5 plus National Bank) since Sept 2 2008.
Hey traders, Similarly to the US and EU, the Canadian economy is now expressing signals of running into a brick wall. Canada's yield curve sits on the cusp of inverting for the first time in a decade... banks will increasingly become reluctant to lend as Canada's term structure turns negative. This will impact credit creation, and thus slow down economic growth....