Are You Looking for a Top Momentum Pick? Why Royal Bank (RY) is a Great Choice

Core Viewpoint - The article discusses the momentum investing strategy, highlighting Royal Bank (RY) as a strong candidate for momentum investing due to its favorable performance metrics and earnings outlook. Company Overview - Royal Bank currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The bank has a Zacks Rank of 2 (Buy), suggesting it is expected to outperform the market [4] Performance Metrics - RY shares have increased by 5.43% over the past week, while the Zacks Banks - Foreign industry has decreased by 2.54% during the same period [6] - Over the past quarter, RY shares have risen by 13.91%, and they are up 20.35% over the last year, compared to the S&P 500's increases of 9.8% and 15.8%, respectively [7] - The average 20-day trading volume for RY is 1,116,798 shares, indicating a bullish sign with rising stock prices [8] Earnings Outlook - In the past two months, three earnings estimates for RY have been revised upwards, while none have been lowered, increasing the consensus estimate from $9.55 to $9.96 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions [10] Conclusion - Considering the strong performance metrics and positive earnings outlook, RY is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a compelling option for investors seeking short-term gains [12]