Possible Bullish Inside Day Candle Pattern Detected for Royal Caribbean Cruises (NYSE:RCL)
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. Yesterday's price range of $73.82 and $75.45 is within the prior day'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.
Royal Caribbean Cruises share prices have moved between a 52-week high of $103.40 and a 52-week low of $64.21 and closed yesterday at 17% above that low price at $75.00 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.
Royal Caribbean Cruises (NYSE:RCL) has potential upside of 36.4% based on a current price of $75.00 and analysts' consensus price target of $102.33. The stock should find initial resistance at its 50-day moving average (MA) of $75.98 and further resistance at its 200-day MA of $86.79.
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 monitoring the recent change of momentum in Royal Caribbean Cruises. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Royal Caribbean Cruises in search of a potential trend change.
Keywords: bullish am inside day candle royal caribbean cruises