Annual Forecast on Royal Bank of Scotland (2017)

PUBLISHED: Feb 02 2017 @ 03:56 | Comments (0) | More info about Azeez Mustapha

Royal Bank of Scotland stock (LSE:RBS) is a bull market, though quite volatile. In spite of the volatility, price is expected to go further upwards from here.

4 EMAs are used for the analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart.

Price is now above the EMA 200 (a golden cross) and the other EMAs are also sloping upwards. This is a bullish signal. While price may dip into the EMAs 10 or 20, the general movement for this year should be bullish.

As long as RBS does not go below the EMA 200, the bullish expectation on the market would be valid. The targets for the year 2017 are located at the resistance levels of 240, 250 and 260.

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