Royal Caribbean Cruises (RCL) NewsBite - Investor Optimism Boosts RCL

Posted: Monday, November 16, 2009 11:37 AM EDT

Royal Caribbean Cruises (NYSE: RCL) opened at $23.86. So far today, the stock has hit a low of $23.76 and a high of $24.25. RCL is now trading at $24.16, up $1.04 (4.5%). Over the last 52 weeks the stock has ranged from a low of $5.40 to a high of $25.02. RCL shares are rising with the rest of the market after a positive report on retail sales buoyed investors' hopes for a swift and strong economic recovery. The Commerce Department reported this morning that US retail sales rose by 1.4 percent in October, beating forecasts of a 0.8 percent gain. Technical indicators for the stock are bullish and S&P gives RCL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on RCL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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