Royal Bank of Canada

So I finally took the plunge and invested in a bank today. The Royal Bank of Canada (RBC-T) to be exact.

I must admit that I am not particularly confident about my entry point but as shown in the charts below, RBC's recent downtrend appears to have been broken.


Now, I could have only taken a partial position in RBC and see what happens before investing the rest but I decided against this. Since I plan on investing in at least two other Canadian dividend-paying bank stocks, I decided to invest the full amount in RBC and avoid paying a few additional dollars in commissions. If markets deteriorate again, I'll enter a position in another bank I have on my watch list. And if bank stocks have already completed their downtrend, I have picked up RBC at a yield of just over 4%.

Hopefully, ten years from now, none of this will matter with RBC hopefully reaching much higher highs and providing an ever-increasing dividend to boot.