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Possible Bearish Inside Day Candle Pattern Detected for Royal Caribbean Cruises (NYSE:RCL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Royal Caribbean Cruises (NYSE:RCL) based on the price action in the company's shares. Today's price range of $110.73 and $111.59 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Royal Caribbean Cruises may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $111.18, Royal Caribbean Cruises is currently 4.8% above its average consensus analyst price target of $105.89. Royal Caribbean Cruises shares have support at the 200-day moving average (MA) of $86.49 and additional support at the 50-day MA of $76.91.

Royal Caribbean Cruises Ltd. is a global cruise company operating a fleet of vessels under the Royal Caribbean International and Celebrity Cruises brand names. The Company currently operates cruises visiting Alaska, the Bahamas, Bermuda, Canada, the Caribbean, Europe, the Far East, Hawaii, Mexico, New England, the Panama Canal, Russia, and Scandinavia.

In the past 52 weeks, shares of Royal Caribbean Cruises have traded between a low of $64.21 and a high of $114.50 and are now at $111.18, which is 73% above that low price. The 200-day and 50-day moving averages have moved 0.18% lower and 0.42% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Royal Caribbean Cruises on April 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $101.49. Since that recommendation, shares of Royal Caribbean Cruises have risen 10.4%. We continue to monitor RCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle royal caribbean cruises

Ticker(s): RCL