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Royal Caribbean (RCL) Crossed Above the 200-Day Moving Average: What That Means for Investors
From a technical perspective, Royal Caribbean (RCL - Free Report) is looking like an interesting pick, as it just reached a key level of support. RCL recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
Over the past four weeks, RCL has gained 19.9%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Once investors consider RCL's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, and the consensus estimate has increased as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on RCL for more gains in the near future.