Hi Shoppers,

Call me crazy but I like to look at two different charts for each stock I am analyzing.

It gives me two different views.

And I may catch something on one chart that I missed on the other.

My first chart has my pitchfork and the daily volumes and the second shows the moving averages and the volumes at price levels.

Here is my pitchfork for Royal Caribbean Cruises (Ticker: RCL): 

The support of the median line (red) is being honored and yesterday had a bullish engulfing candle at the possible bottom of this selloff.

Here is my other chart of RCL:

On this chart, RCL is honoring the horizontal support level at $98.

But just above yesterday’s close, there is the convergence of the 50-day and 21-day moving averages which provides significant resistance.

Below there, the volume profile shows a thin zone for the stock to trade through.

These are conflicting charts.

I like RCL on the long side over $102 and from there I think it will test the previous high of $110 to $112.

On the downside below $98, I think RCL will trade $92 and quite possibly down to $80.

Watch this one, it is going to make its move.

Trade Review

Wells Fargo (Ticker: WFC) looking to trade higher, I called $45.

There will be some resistance at the 200-day moving average of $42.75.

Thanks for reading … See You Next Tuesday,