Bullish case for RCL
This 60m chart shows an extremely bullish outlook for RCL. Following a three-wave correction from $130 to $90 in late 2018, the stock has rallied in what appears to be a five-wave move higher. Price has broken above the prior B-Wave swing high and is setting up for a new series of higher-highs / higher-lows. With a bull flag forming above key Fibonacci support levels, there is a chance that a break higher from here could quickly accelerate into an extended Wave-3 rally. I'm looking to establish long positions on a break of the short-term corrective channel as well as a spike in momentum (RSI through trendline resistance). However, RCL could easily continue to chop sideways from here in some form of correction, so it's best to wait for confirmation and not rush the entry.
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