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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. Today's price range of $73.94 and $74.50 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.

Over the past year, Royal Caribbean Cruises has traded in a range of $64.21 to $103.40 and is now at $74.07, 15% above that low. The 200-day and 50-day moving averages have moved 0.18% lower and 0.42% higher over the past week, respectively.

Royal Caribbean Cruises has overhead space with shares priced $74.07, or 27.6% below the average consensus analyst price target of $102.33. Royal Caribbean Cruises shares should first meet resistance at the 50-day moving average (MA) of $76.91 and find additional resistance at the 200-day MA of $86.49.

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 inside day candle royal caribbean cruises

Ticker(s): RCL