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RCL Stock Fell 5%; More Downside Pending in Royal Caribbean?

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RCL Stock Fell 5%; More Downside Pending in Royal Caribbean?
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RCL stock is presently witnessing weak bearish momentum on the daily technical charts. On the daily chart, the share price was shorted strongly. Royal Caribbean is currently trading near $98.86, with a drop of 0.10% intraday. 

The upside trend of Royal Caribbean may halt near the value of $113.24. Meanwhile, the support of the share price is near $113.24. RCL price is currently taking support on the 50 EMA. If the price surges beyond the 50-day EMA, then a strong upside trend can be seen in the future.

RCL price prediction indicates that the Royal Caribbean stock is presently trading within the firm grasp of the bears. The technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone.

Over the span of a week, RCL stock has experienced a decrease of approximately 1.63% and this decline has been seen over the course of a month, a decline of around 5.59%. Looking back over a three-month period, RCL shares have spiked by about 8.64%, while the stock gave a fabulous return of 44.57% over the last six months. Furthermore, the stock’s performance throughout the year has been excellent, with a year-to-date return of approximately 95.61%.

Technical Analysis: RCL Stock Price Roadmap

RCL Stock Fell 5%; More Downside Pending in Royal Caribbean?
Source: RCL.1D.NYSE by TradingView

Royal Caribbean Cruises Ltd. (RCL: NYSE) is trading above the 50 and 200-day DMAs (daily moving averages), which are supporting the price trend as of now. Nevertheless, if selling volume adds up then more downward levels can be seen in upcoming weeks. The stock price might smash new lows by making lower highs and lows. Hence, the Royal Caribbean price is expected to move downwards giving bearish views over the daily time frame chart.

The current value of RSI is 45.31 points. The 14 SMA is above the median line at 44.43 points which indicates that the RCL stock is neutral. The MACD line at -0.9196 and the signal line at -0.6303 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the Royal Caribbean stock price.

Summary

Royal Caribbean Cruises Ltd. (RCL: NYSE) showcases weakness in the momentum, taking support on the 50 EMA level. The MACD, RSI, and EMAs showcase neutrality in the trend. Investors are not very optimistic regarding the recovery of the stock. The short sellers may find this opportunity beneficial whereas buyers may prefer to wait on the sidelines regarding the current scenario.

Technical Levels

  • Support Levels: S1 $93.46, and S2 $91.00.
  • Resistance Levels: R1 $103.95, and R2 $113.24.
Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading crypto or stock. Please do your own research before making any financial decisions.

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