Royal Bank of Scotland: The Trend Continues Up (RBS)
SmarTrend identified an Uptrend for Royal Bank of Scotland (NYSE: RBS) on March 05, 2010 at $12.07. In approximately 2 weeks, Royal Bank of Scotland has returned 8.7% as of today's recent price of $13.12.
Royal Bank of Scotland is currently above its 50-day moving average of $11.22 and should find resistance at its 200-day moving average of $13.21. Look for these moving averages to climb to confirm the company's upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Royal Bank of Scotland shares.
Write to Chip Brian at cbrian@tradethetrend.com
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