RCL - Winding Up Once Again?
Royal Caribbean had crumbled in value, with it going from a previous high of $136 to $20 in a matter of two months. I have good faith that this summer holidays will be back on for the majority of the western world, but for how long? I'm not too sure. We have seen a strong comeback and I see potential for further upside with a attractive 1:3 RRR .
As you can see on the chart above a particular patterns seems to be appearing. Which is a tight bear flag / falling wedge , so strong momentum to the upside when it breaks. With a bull run averaging $32 on average... until a pullback happens, which is a sign of a healthy bullish trend .
One stock CCL has been almost identical to RCL's charting technicals. So, we can see it's not just a company recovering, it's actually a whole sector recovering.
CCL is based is in the UK which is doing very well in returning back to normal and having holidays in the coming months. Drop a like if you would like to see my analysis!
I have set a buy stop around the 0.5 - 0.618 fib level which has been respectfully met on all of the pull backs in the past year. Targets are set to $110, but profit will be taken along the way. Later entries are also in the play around the $90-91 mark. I would expect a strong break to the upside before entering... Be careful don't over leverage yourself.
Let me know what you think! Any constructive criticism or compliments would be greatly appreciated
As you can see on the chart above a particular patterns seems to be appearing. Which is a tight bear flag / falling wedge , so strong momentum to the upside when it breaks. With a bull run averaging $32 on average... until a pullback happens, which is a sign of a healthy bullish trend .
One stock CCL has been almost identical to RCL's charting technicals. So, we can see it's not just a company recovering, it's actually a whole sector recovering.
CCL is based is in the UK which is doing very well in returning back to normal and having holidays in the coming months. Drop a like if you would like to see my analysis!
I have set a buy stop around the 0.5 - 0.618 fib level which has been respectfully met on all of the pull backs in the past year. Targets are set to $110, but profit will be taken along the way. Later entries are also in the play around the $90-91 mark. I would expect a strong break to the upside before entering... Be careful don't over leverage yourself.
Let me know what you think! Any constructive criticism or compliments would be greatly appreciated
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