This is a modified Wyckoff Accumulation long on Royal Bank of Canada, I have been testing this entry for a little while, which is why I haven't published many charts lately. Anyways, basically we look for a Supply Climax (SC), followed by an Automatic Reversal (AR) above the prior swing high, then a Secondary Test (ST) of the SC level, ideally a Spring (SP) which...
During the latest drop, Royal Bank of Canada shares crossed over USD 67, while RSI showed no divergence. Within the next three days the stock can be expected to drop to USD 67 and only after this the name could rebound to the upper bound of the rising band.
