Annual Forecast for Royal Bank of Scotland (2019)

PUBLISHED: Feb 10 2019 @ 05:11 | Comments (0) | More info about Azeez Mustapha

Royal Bank of Scotland stock (LSE:RBS) has assumed a bullish trend, and it is set to recover its recent loss. The current pullback is only a pause in the bullish momentum, after which it is expected to continue.

The ADX period 14 is at the level 20, showing some decrease in the market momentum. The DM+ is above the DM-, meaning that bulls still hold sway. The MACD default parameters, has its signal lines and histogram above the zero line. There is a Bullish Confirmation Pattern in the market.

The current pullback is not the end of the bullish momentum – it is only a pause. The trend will resume as price targets the resistance lines at 260.00, 280.00 and 300.00.

Trading realities: Trading realities

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.