Royal Bank of Canada

RY remains in a Stage 2 advancing uptrend with strong medium-term bullish permission, but price is extended above rising EMAs and extreme overbought conditions reduce immediate entry edge. We will defer engagement and stalk for a pullback into the rising 9/21 EMAs or near the 50-day SMA support zone for a structurally sound buy opportunity, mindful of the active Blow-Off Top signaling elevated distribution risk.

• ↑Adjusted earnings CAD5.6 bn (+25% YoY) with 17.2% ROE underscores strong profitability.
• ↑CET1 ratio at 13.5% signals robust capital adequacy for growth.
• ↓Gross impaired loans climbed to CAD9.8 bn, raising credit risk.