On their respective monthly charts, and general longer-term timeframes, the two major publicly-traded cruise stocks are almost laughably bearish with massive head and shoulders tops in play over a span of many years. However, head and shoulders tops need confirmation, in the form of a neckline breach, to even have a chance at proving true. In addition, when you are talking about head and shoulders tops on monthly charts it is worth considering that plenty of long, sideways consolidations often take on the shape and form of a head and shoulder top, only to leave bears left for dead by big-game hunters positioned for the next bull run as price breaks up and out of the multi-year grind.
Thus, I am going to focus on the daily timeframes for our two cruise stocks, CCL and RCL. After all, the shorter-term timeframes in aggregate eventually shape the longer-term ones. Here, you can see the uptick in buy volume over the past two trading sessions to accompany attempted breakouts. CCL is more technically sound on the daily than RCL, with moving averages starting to align and price breaking out of a clear defined pattern.
The two are likely to move in tandem, though, as money now seems to want into this industry.
___________________________________
___________________________________
