RCL pushes through 50-day moving average


Royal Caribbean Cruises Ltd (RCL) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
RCL rallies 5.11% on high volume
RCL pushes through 50-day moving average
RCL unable to break through key resistance level
RCL closes higher for the 4th day in a row
RCL pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 4th day in a row, RCL ended Thursday at 113.50 surging $5.52 (5.11%) on high volume. This is the biggest single day gain in over a year. Today's closing price of 113.50 marks the highest close since April 25th. Closing above Wednesday's high at 109.48, Royal Caribbean confirms its breakout through the previous session's high having traded $6.07 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RCL
Volatility

Thursday's trading range was $4.74 (4.24%), that's far above last trading month's daily average range of $2.45. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.

Support/Resistance

Unable to break through the key technical resistance level at 113.92, the market closed below it after spiking as high as 115.55 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

While the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The share managed to break above the 50-day moving average at 109.73 today for the first time since February 12th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for Royal Caribbean Cruises Ltd
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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