Although I’ve never been on a cruise ship in my life, I’ve had a lifelong disdain for the very concept of the things. This wasn’t the basis of my trade, but I bought puts on Royal Caribbean (RCL) a while back, and although they are up 25%, I’m expanding my position based on this continuation of the breakdown.
Major support, which is the lower trendline of that channel, is far enough away to make this interesting.
I anticipate fatter profits ahead.
