February 25, 2021, 1:19 pm EST
2021 Actual Trade: RCL +25% Profits
We mentioned in our 02/16 article that cruises were strong:
https://marketfellow.com/2021/02/16/stock-market-today-china-mania-and-cruise-recovery/
Consequently, we bought RCL that was about +10% on 02/16. This is the breakout day.
From the featured chart, we can easily identify its bullish falling wedge pattern. Its breakout with higher volume. Most importantly, the entire cruise industry was up altogether (RCL, CCL, NCLH) together with airliners and hotels.
The fundamental reason is its bullish outlook for decline COVID-19 cases due to vaccines. It may be hard to know whether this is a true or false estimation but traders were in for that reason.
The overall market becomes volatile these days so we decided to take quick one week profits of +25% from RCL.
