I must be the right demographic, because not a week goes by when I don't get one, if not several, sales booklets for cruise lines. And all that marketing must be working, because the chart of Royal Caribbean Cruises (RCL) is steaming ahead.
RCL's chart above started a strong rally in May that continues with a strong ON-Balance-Volume (OBV) line and trades above the rising 50-day and 200-day moving averages.
This longer-term chart of RCL above shows how it has stayed above the rising 40-week moving average with a rising OBV line and a bullish MACD oscillator signal. Based on a point-and-figure chart count, our next price target for RCL is around $125.