Canadian bank stocks are all high up the large cap SCTR ranking tables. RBC (RY) is Canada's largest bank. The SCTR pushed up on the back of the Fed minutes but it was working up there in April before the financials surged this week.
The volume on a weekly basis is a little below average. The MACD is nice and high and the dividend yield is 4%.
Other Canadian bank stocks also have strong SCTR's and are listed on both exchanges. All five of the Canadian banks are in the top 10 large cap bank SCTR rankings. Here are some of the SCTR rankings.
- BMO (78.7)
- BNS (74.6)
- TD (73.6)
- CM (65.3)
This will be an important week to see if all the banks can keep moving up. After the sudden surge, it will be important to see if they continue to be bought.
Greg Schnell, CMT