Royal Bank of Canada (RY) NewsBite - RY Trading Up Near Its 52 Week High On Bullish Broker Rating

Posted: Tuesday, November 10, 2009 12:59 PM EDT

Royal Bank of Canada (NYSE: RY) opened at $53.30. So far today, the stock has hit a low of $53.29 and a high of $54.23. RY is now trading at $54.07, up $0.58 (1.08%). The stock hit its 52-Week high of $55.08 last month and set its 52-Week low of $20.51 in February. RY stock is moving higher today and is nearing its 52 week high after UBS initiated coverage on the stock with a Buy rating. Technical indicators for the stock are neutral and S&P gives RY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on RY the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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