RY again

ry nov 12 2016

RY has gone right to the extreme of , almost, $86. That is an increase of about 330% since the lows immediately after the Great Recession. Much of this is due to multiple expansion, which itself is due to the low interest rates and the corresponding discounted value.  No doubt the increase in real estate values, non inflationary of course, had much to do with it as well. Unless you believe that this will continue, we do not, then you should not continue to own this stock from a trading perspective. The RSI has always been a good indicator and again it has gone into overbought territory twice.