RCL closes within prior day's range


Royal Caribbean Cruises Ltd (RCL) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
RCL closes below its opening price unable to hold early session gains
RCL unable to break through key resistance level
RCL ends the day on a bearish note closing near the low of the day
RCL finds buyers again around 113.54
RCL closes within previous day's range
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

RCL ended the week 1.09% higher at 113.64 after losing $0.54 (-0.47%) today. Trading $1.39 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for RCL
Volatility

Friday's trading range was $1.92 (1.68%), that's slightly below last trading month's daily average range of $2.63. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 114.37, Royal Caribbean closed below it after spiking as high as 115.46 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 113.01 in the previous session, the market found buyers again around the same price level today at 113.54.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Royal Caribbean Cruises Ltd
Condition Forecast Direction Win Avg Worst Best Events
Low close to previous three Lows TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
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