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Chart of the Day: Royal Caribbean May Be Attempting a Breakout

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Royal Caribbean Cruises has spent more than two months consolidating, but it may be getting ready to move again.

The first pattern on today’s chart is the trendline along the closes of December 28 and January 31. RCL ended yesterday above it, which could make some traders think the stock is …

For more, please click here to view the related idea and chart analysis on TradingView.

Royal Caribbean Cruises (RCL), daily chart, with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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