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

By James Quinn

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 $103.74 and $105.97 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 $110.60 and a 52-week low of $64.21 and closed yesterday at 63% above that low price at $104.98 per share. 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 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.

Royal Caribbean Cruises (NYSE:RCL) has potential upside of 0.9% based on a current price of $104.98 and analysts' consensus 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.

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 am inside day candle royal caribbean cruises

Ticker(s): RCL