Have you been to East Malaysia?
Its sunset is gorgeous, and the seafood is so fresh!
It’s a pity that I didn’t have the chance to explore much because I was there for work. I plan to revisit East Malaysia for leisure soon.
Switching back to the stock market, did you realize that this week’s stock pick is also a cruise liner?
I’ll analyze this cruise liner’s stock after reviewing last week’s stock pick: Carnival Corp (CCL).
Review Of Last Week’s Pick Of The Week
Carnival Corp (CCL) was last week’s stock pick.
After a dreadful start to 2024, its shares burst into life, surging more than 22% in its latest upmove.
Since then, its share price has pulled back to $17 as planned. A bounce could occur next week, presenting you with a fabulous swing trading opportunity.
I’m eagerly waiting for the bounce!
As we wait, shall we analyze this week’s swing trading opportunity together – Royal Caribbean (RCL)?
Why Is Swing Trading Royal Caribbean (RCL) Worth It?
Source: careers.royalcaribbeangroup.com
The Royal Caribbean Group is one of the world’s largest cruise operators and liners. It has 5 brands that cater to different market segments, ranging from the exquisite to the adventurous.
Traders and investors are highly optimistic about the company, sending its share price to new all-time highs repeatedly.
And they are rewarded handsomely as its stock has consistently brought larger-than-market returns in a short amount of time.
Here’s the best part.
Its share price has pulled back and looks ready to rocket higher.
What’s the game plan?
Continue reading to get the details.
P.S. What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short amount of time?
My team and I have worked tirelessly to help you achieve results fast.
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Performance Of US Stock Market vs Royal Caribbean (RCL)
Can you identify 2 critical pieces of information from the comparison chart above?
- The trend of Royal Caribbean’s share price
- The strength of its shares against the S&P 500
Royal Caribbean’s share price is in a mighty uptrend, repeatedly surging to new all-time highs.
Identifying the trend of its share price allows you to conclude that you’ll want to buy its shares for a swing trade.
The performance of Royal Caribbean’s shares has overtaken the overall US stock market performance (aka S&P 500).
While the S&P 500 has brought a return of almost 7% in 3 months, the return by Royal Caribbean’s shares is more than double, at 15.2%!
Swing traders love such stocks because they are looking for outsized gains in a short period of time.
And I’m certain you want to be beating the market too.
So, let’s continue with our analysis.
How Explosive Is Royal Caribbean (RCL)?
To make your time in this stock worthwhile, you’ll want it to explode in price in a short period of time. That’ll also optimize your trading capital, making it work harder for you.
In the past 11 months, there have been 11 explosive upmoves. Each measures between 4.6% to a spectacular 63.2%!
The magnitude of such upmoves is incredible, given that Royal Caribbean enjoys a massive market capitalization of $40b!
I see that you’re eager to fire a buy order.
Let’s determine whether the time to buy its shares for a swing trade is here first.
Key Price Levels
Let’s uncover Royal Caribbean’s shares’ key price levels (aka support and resistance).
Did you also spot a support area around $156?
Well done if you did!
Royal Caribbean’s share price has pulled back and sits comfortably in its support area.
Here’s what you’ll want to see in the coming days before firing a buy order for a swing trade – its share price opening higher than Friday’s close.
Why?
That’ll signal the return of the bulls, boosting your chances of success!
Instead of staring at your screen, you may want to set a price alert on your broker’s platform to be notified so that you can spend precious time with your loved ones.
Finally, this is for educational purposes. Please perform your due diligence.
All images are taken from royalcaribbean.com, pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.
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The stock market is full of traps laid out by professional traders.
Many new traders are often left confused by conflicting signs and signals.
Worse still, ~80% of traders lose money.
This is because trading isn’t just about skill alone.
It includes the mastery of your emotions.
But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market?
My team and I have worked tirelessly to help you achieve results fast.
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