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Buyers Accumulating Shares of Royal Caribbean Cruises on 1.6x Above-Average Volume (RCL)

Published on Thu, 03/14/2013 - 13:11
By Robert Cotter

Royal Caribbean Cruises's stock is up 1.7% to $34.08 on heavy trading volume. Today's volume of 4.2 million shares tops the average 30-day volume of 2.6 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Royal Caribbean Cruises Ltd. is a global cruise company operating a fleet of vessels under the Royal Caribbean International and Celebrity Cruises brand names. The Company currently operates cruises visiting Alaska, the Bahamas, Bermuda, Canada, the Caribbean, Europe, the Far East, Hawaii, Mexico, New England, the Panama Canal, Russia, and Scandinavia.

In the past 52 weeks, shares of Royal Caribbean Cruises have traded between a low of $22.12 and a high of $38.56 and are now at $34.08, which is 54% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

Royal Caribbean Cruises (NYSE:RCL) has potential upside of 17.0% based on a current price of $34.08 and analysts' consensus price target of $39.87. The stock should find resistance at its 50-day moving average (MA) of $35.60, as well as support at its 200-day MA of $30.68.

By Robert Cotter
rcotter@fnno.com