marketfellow

2021 Actual Trade: RCL +25% Profits

NYSE:RCL   ROYAL CARIBBEAN GROUP
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1
we bought RCL that was about +10% on 02/16. This is the breakout day.
From the featured chart, we can easily identify its bullish falling wedge pattern. Its breakout with higher volume . Most importantly, the entire cruise industry was up altogether ( RCL , CCL , NCLH ) together with airliners and hotels.
The fundamental reason is its bullish outlook for decline COVID-19 cases due to vaccines. It may be hard to know whether this is a true or false estimation but traders were in for that reason.
The overall market becomes volatile these days so we decided to take quick one week profits of +25% from RCL .

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