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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish 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 $103.74 and $105.69 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. Traders and investors interested in shares of Royal Caribbean Cruises may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Royal Caribbean Cruises have traded between a low of $64.21 and a high of $110.60 and are now at $105.37, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

Royal Caribbean Cruises has overhead space with shares priced $105.37, or 0.5% below the average consensus analyst price target of $105.89. The stock should discover initial support at its 200-day moving average (MA) of $86.49 and subsequent support at its 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.

SmarTrend is tracking the current trend status for Royal Caribbean Cruises and will alert subscribers who have RCL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle royal caribbean cruises

Ticker(s): RCL