2 TSX Financials Stocks Shift to Bullish
National Bank of Canada (NA) hit Strong Bullish (81.2) and Royal Bank of Canada (RY) climbed to Bullish (73.1), indicating momentum shifts in TSX
- Visit the stock pages: NA, RY
- Sector NA , which ranks #1 for Relative Strength (Altra Sector score of 97.0 with bullish regime.)
The TSX market is exhibiting signs of "improving breadth," with the Altra Market score registering at 66.9. This proprietary market-wide score, which gauges the percentage of stocks trading above key Exponential Moving Averages (EMAs), indicates a healthier underlying texture. Currently, 65.0% of TSX stocks are positioned above their 20-day EMA, 70.0% above their 50-day EMA, and 70.0% above their 200-day EMA, suggesting a generally supportive environment for trend-following strategies. Despite a slight 15-day score trend of -3.5, the overall message for traders and investors is to "be selective" and "favor high-quality setups" within this improving landscape.
Amidst this market backdrop, the Canadian Financials sector is drawing considerable attention. With an impressive Altra Sector score of 97.0, it currently stands as the #1 ranked sector, demonstrating superior momentum relative to its peers. The Altra Sector score, like its market-wide counterpart, offers a momentum read at the sector level and provides a relative-strength rank. This highlights the Financials sector's leadership, even as its "Regime Detail" notes it's a "Confirmed leader, cooling off," with an RS RSI of 67.0. This suggests that while it remains robust, some consolidation might be occurring after a period of strong performance. It's within this context of an improving market and a leading, yet potentially consolidating, sector that two major Canadian banking names have shown significant Altra Score shifts.
National Bank of Canada (NA)
National Bank of Canada (NA) has recently seen its Altra Score jump from 55.5 (Neutral) to a robust 81.2, pushing it firmly into the "Strong Bullish" category. The Altra Score, a proprietary metric ranging from 0 to 100, measures a stock's momentum based on the alignment of Exponential Moving Averages (EMAs) and Relative Strength Index (RSI) trends across daily, weekly, and monthly timeframes. A higher score indicates stronger bullish momentum, making NA's recent shift a notable development.
A closer look at the technical indicators supporting this surge reveals a consistent picture. NA's stock is trading above its key EMAs across multiple timeframes, which generally signifies a healthy underlying trend and sustained buying interest. The Relative Strength Index (RSI) readings further underscore this strength: the daily RSI stands at 52.74, while the weekly RSI is at 70.22, and the monthly RSI is an elevated 84.28. These weekly and monthly RSI levels suggest strong price momentum over longer periods, indicating that the recent move isn't just a short-term fluctuation. Furthermore, a bullish Weekly EMA Crossover was identified on May 16, 2025, which provides a longer-term confirmation of the accelerating upward trend. The fact that NA is "Top-Down Aligned" further reinforces the consistency of its momentum across daily, weekly, and monthly views, signaling a cohesive upward trajectory. This individual strength aligns well with the broader Canadian Financials sector's top-ranked status, suggesting NA is participating actively in, and potentially driving, that sector's leadership.
Royal Bank of Canada (RY)
In tandem with National Bank, Royal Bank of Canada (RY) has also demonstrated a significant shift in its momentum profile. On July 30, 2026, RY's Altra Score advanced from 56.2 (Neutral) to 73.1, moving it into the "Bullish" category. This synchronized move by two major players within the same sector points to a potential broader strengthening of momentum among Canadian financial institutions.
Similar to NA, RY's technical posture supports this bullish shift. The stock is currently trading above its key EMAs, a classic indicator of a positive trend where the stock's price is generally moving higher than its average over various periods. Its RSI readings are notably strong, particularly on the longer timeframes: the daily RSI is at 52.35, the weekly at 78.64, and the monthly at a very high 91.98. Such elevated weekly and monthly RSI levels often accompany powerful and sustained uptrends. A bullish Weekly EMA Crossover was also observed for RY on May 9, 2025, providing a clear technical signal of an emerging longer-term positive trend. The "Top-Down Aligned" status for RY further validates the consistency of its bullish momentum across daily, weekly, and monthly timeframes. This collective bullish turn for NA and RY, both dominant forces in the Canadian banking landscape, underscores the resilience and potential for continued positive movement within the high-performing Financials sector, even as the sector itself is flagged as "cooling off" after its strong run. The individual strength of these components provides a compelling narrative for the sector's overall leadership and robustness.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.