Royal Caribbean Group’s (NYSE:RCL) broke out on 17 February at 75.11 and confirmed on 19 March at 90.72. Thus, garnering a LTN Cash Pile Buy rating with a 1 yr price target at 135/share.
Some of RCL’s cruises will resume sailing to the Bahamas and in the Caribbean in June with vaccinated adult guests, ending a yr-long hiatus brought on by the VirusCasedemic chaos.
Shares are trading at 89.70 pre-market Monday in NY within its 52 wk trading range of 22.25 – 99.24. The Street analyst’s consensus price target is 86.35.
The Key support is at 76.56 and the resistance is is Nil beyond 98.01.
Our outlook is Bullish with a Very Bullish Bias in here, as our Key technical indicators are now Very Bullish.
Royal Caribbean Group operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations.
As of 31 December 2020, it operated 61 ships with an aggregate capacity of approximately 137,930 berths. The company was founded in Y 1968 and is HQ’d in Miami, Florida.
Have a healthy week, Keep the Faith!