NYSE:RCL D/B/A Royal Caribbean Cruises Ltd
Another name from the Consumer Discretionary sector that just rejected the underside of the 20d on Friday pretty convincingly. I’m watching for this name to lose 82.5s and then short pops on lower highs. I know that the travel sector can be pretty cyclical and that there is a lot of traveling over the holidays, but this isn’t a swing idea and I’m not concerned about getting short for a day trade if technical levels break and the price action in agreement. The other way you could look to play this is a short on any spike Monday into Friday’s highs/20d with set risk over those levels. Personally would prefer to wait for the first scenario since what I’m really waiting for is the broader market and the Consumer Discretionary sector to give me wind to my back.
Comment: view updated Idea here: