$RCL Potential Support

Looking at the weekly chart of $RCL it has found some potential support at 82.51, the 161.8% fib level. Also, it can be seen going back to 2013, the stock has found its support near its 50 WMA. It’s at a risky level being that earnings are just around the corner, Jan 28th, but perhaps some one is looking for a earnings surprise? Earnings estimates are low so the potential for a surprise is there. My earlier thoughts were that it would ramp up to earnings, but unfortunately it has not panned out and the whole market seems to be rolling into a bear market. However, if earnings begin to come out positively perhaps there is still some meat left on the bone? The next thought is that perhaps it may be an earnings turn around… or I can be completely incorrect and stock never recovers? Lets see what happens. There was some unusually high option activity Friday, where Mar 82.5 puts positions were closed and Feb 90 Calls were purchased. ChartScreen Shot 2016-01-16 at 11.26.41 AM

 

 

 

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