RCL trade ideas
RCL mini HSIn general, seems like the bouncing hard names i.e. DOW needs to take a rest or even resume down trend.
Royal Caribbean continues with liquidity boost to sail through
themarketsignal.com
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Royal Caribbean Cruises Ltd (NYSE:RCL) gained 2.75% on a volume of 20.69 million shares. The stocks around tourism or travel haven’t brought much of good information ever since COVID-19 rattled the U.S. economy and led to the tanking of share market. The Royal Caribbean, in its bid to swim out of this rough current of virus, is continuously boosting its liquidity. Recently, the company raised additional $2 billion through convertible and senior notes, which will mature on June 15, 2023.
Before this, the company on May 19 had completed senior secured notes offering of $3.3 billion. The company had estimated its cash burn within the monthly range of $250-$275 million with the operations suspended and cruise not sailing.
Elliot wave theory and now A, B, C, correctionI think this could start of an A, B, C, correction for RCL, which is a good time to try to take some profits and buy in later. Let me know what you guys think?
$RCL Royal Caribbean Cruises Ltd. $90 target
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Sentiment high in the sector
Volume very impressive
RSI is approaching 80 so quite overbought
Still quite a high short interest of 14%
Company profile
Royal Caribbean Cruises Ltd. operates as a global cruise vacation company. It operates global cruise brands: Royal Caribbean International, Celebrity Cruises, Azamara and Silversea Cruises. The firm also holds interest in TUI Cruises, Pullmantur and SkySea Cruises brands. The company was founded in 1968 and is headquartered in Miami,
another gap at the blue circle...is this planning to fill that gap? its possible
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Short full bull shit company, potential bankruptcyShort full bull shit company, potential bankruptcy
gap closed...now whatmy bet is that this has one few more waves of consolidation..
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Short from down trend and risk off for stocks acc. trade warShort from down trend and risk off for stocks acc. trade war
minimal more to support next move to new low, i expect very low price from troubles this company
RCL - Head and Shoulders, Bearish divergence1. Head and shoulders
2. Bearish MACDH divergence
3. Wave 4 ending
RCLWhen it pull back to soport level its time to get in or if it breaks the resistance then clear for long. I see good opportunity in this company, booking for 2021 is higher than expected already, let´s go Royal
Short RCLCruises are even heavier hit than airlines.
People might be required to take a plane for travel, but certainly not to take a cruise vacation.
Rejected every time it hit its 50D MA, just about to brake support line of around 33.5$.
If this level breaks, there is a lot more room to clear on the downside.
Looking to short with SL at 50D MA.
TP at the YTD low from mid march.
RCL 1D ASCENDING TRIANGLE BREAKOUTAscending Triangles are repeatable trading chart patterns.
Ascending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
