Royal Caribbean Cruises (RCL) NewsBite - Trading With Unusual Volume

Posted on Friday, October 10, 2008 3:09 PM

Royal Caribbean Cruises (RCL) appears to be trading at a higher than usual volume today and is now at $13.09, down $1.67 (-11.31%) on volume of 8,951,710 shares traded. For the last 30 days RCL has traded 3,616,077 shares on average each day. So far today's volume is 147.55% above that average volume. Over the last 52 weeks the stock has ranged from a low of $14.39 to a high of $43.96. Royal Caribbean Cruises stock has been showing support around $13.25 and resistance in the $17.03 range. Technical indicators for the stock are bearish and S&P gives RCL a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RCL the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]