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R1CL34 trade ideas

RCL bull flag breaks above $80I last analysed RCL a few weeks ago on the gap up following a cup and handle formation. At the time I recommended a near-term buy (which would've realised a small profit) but to hold off for a longer-term trade. Since then price has made a new high, pulled back slightly and then yesterday's bar broke out confirming a bullish flag (plus breaking the $80 mark on higher volume). The trend is now reasonably well established and I will look to enter this stock at the next possible opportunity.
NYSE:RCLLong
by iAnneTrader
RCL gaps up on higher volumeUntil earlier this year RCL had been in consolidation since 1999. After price finally broke above $58.88 a good trend began to develop but was seriously hindered by the October pullback. This breached the 1999 pivot high and the 200dma but it was not all bad news - a cup and handle chart formation developed on the daily chart suggesting a move to the upside could continue. The first gap up (28th November) was maybe a smidgen early - although perfectly valid as previous resistance had been tested to become support. The current gap up, however, is on very high volume and a bullish bar so a good candidate for a near-term buy. A longer-term buy may also be on the cards but more cautious traders may want to see a bit more of the trend develop before making a long-term commitment. The longer the consolidation then the bigger the breakout - if this holds true there should be a lot more to come from RCL.
NYSE:RCLLong
by iAnneTrader