RCL appears to be in a 5.2.1 Regular Flat corrective wave. Clearly you see RCL in BLACK bold, dropped 3 waves, comes up 3 waves, and now I suspect it to drop another hard 5 waves down near Major Support or below.
I do think RCL can maybe make it back to a double top at $42-43, if it can break through resistance @ $37. However, it is very unlikely it does that.
5.2.1 Regular Flat: "A flat correction is a 3 waves corrective move labelled as ABC. Although the labelling is the same, flat differs from zigzag in the subdivision of the wave A. Whereas Zigzag is a 5-3-5 structure, Flat is a 3-3-5 structure. There are three different types of Flats: Regular, Irregular / Expanded, and Running Flats."- elliotwave-forecast
I do think RCL can maybe make it back to a double top at $42-43, if it can break through resistance @ $37. However, it is very unlikely it does that.
5.2.1 Regular Flat: "A flat correction is a 3 waves corrective move labelled as ABC. Although the labelling is the same, flat differs from zigzag in the subdivision of the wave A. Whereas Zigzag is a 5-3-5 structure, Flat is a 3-3-5 structure. There are three different types of Flats: Regular, Irregular / Expanded, and Running Flats."- elliotwave-forecast
Comment:
RCL broke through the 2.618 resistance, which is not a bad thing. $37 can now active as a support. Now the stock is into the impulse core at $42-43.4. I expect a double top coming real soon. A good market can create an overshoot. Markets are coming to a top or overshoot hype rally soon.