Royal Caribbean Cruises $RCL Trade Idea

Entered the RCL trade yesterday as the price closed above the resistance zone. We also had a re-test the same day.

Today the price is up and my trade is profitable. In the short term, the oscillators are overbought which suggests that we could have a pullback soon as the price enters the choppy demand and supply zones from the past.

My medium term price target for RCL is about the $130 price level should the trend continue.

The short and medium term MAs are sloping up indicating that the short/medium trend is in a bullish momentum.

We broke out of the resistance on dailies might be a good entry or can wait for a retest of the old diagonal resistance now support around the $100 price point. Not sure if the price will get there however.

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Thank you,
BK