RCL rises to highest close since April 5th


Royal Caribbean Cruises Ltd (RCL) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
RCL runs into sellers again around 116.09
RCL rises to highest close since April 5th
RCL stuck within tight trading range
RCL closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

RCL ended Monday at 115.71 gaining $1.97 (1.73%). Today's closing price of 115.71 marks the highest close since April 5th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for RCL
Volatility

Monday's trading range was $1.66 (1.45%), that's far below last trading month's daily average range of $2.91. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 113.25 and 116.09 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 113.92. After having been unable to move above 115.73 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 116.09.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 113.25 where further sell stops might get triggered. As prices are trading close to April's high at 118.79, upside momentum could speed up should the share mark new highs for the month.

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
Rickshaw-Man TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
Northern Doji TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Doji TQ Pro Members Only
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