Sunday, February 10, 2019

Annual Forecast for Royal Bank of Scotland (2019)

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.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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