• Return to Headlines

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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Royal Caribbean (NYSE:RCL) based on the price action in the company's shares. Yesterday's price range of $114.99 and $117.45 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 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 share prices have moved between a 52-week high of $133.60 and a 52-week low of $89.48 and closed yesterday at 31% above that low price at $117.10 per share. The 200-day and 50-day moving averages have moved 0.01% lower and 0.32% higher over the past week, respectively.

Royal Caribbean Cruises Ltd. is a global cruise company operating a fleet of vessels in the cruise vacation industry. The Company operates through brands which primarily serve the contemporary, premium and deluxe segments of the cruise vacation industry, which also includes the budget and luxury segments.

Potential upside of 22.2% exists for Royal Caribbean, based on a current level of $117.10 and analysts' average consensus price target of $143.11. The stock should find resistance at its 50-day moving average (MA) of $123.09, as well as support at its 200-day MA of $116.13.

SmarTrend is tracking the current trend status for Royal Caribbean 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

Ticker(s): RCL