Don't Ignore This Chart!

Cruising Might Be The Best Holiday (Investment) This Year

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Royal Caribbean Cruise Lines (RCL) has been living on the high seas for a while. This stock broke out to new highs on Monday and continues to be a steady ship in rough waters. In late July, RCL gapped up and then worked sideways. After testing the major horizontal support at $85 on the 'Dow Down A 1000 Day' the stock has really accelerated.

The stock is up 50% since May which is a very rapid advance. The volume looks good as it is running very close to the average volume. With an SCTR of 98, price hitting new highs and the relative strength shown in purple stuck in the top right corner of the chart, this investment harbour is doing well. As the overall market is having some trouble reaccelerating to the upside, stops should be a big part of the strategy for any new ventures at sea. This might be the year that your holiday helps your portfolio as well. Click here to see the seasonality chart for RCL. It appears to be very supportive for the stock!

Good cruising! Actually I mean good trading,
Greg Schnell, CMT

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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