Last Monday Royal Caribbean Group earned an upgrade to its Relative Strength (RS) Rating, from 88 to 91. Today it hit 92 after reporting Q1 earnings.
Today's SMT column reported "RCL stock beat Q1 earnings estimates by 46 cents and guided Q2 above expectations., even though it lost 23 cents in the March-ended quarter. Annual earnings are expected to grow by 75% in 2024."
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an 80 or higher RS Rating at the beginning of a new price run.
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Royal Caribbean Group is working on a consolidation with a 76.40 entry. Be careful, as earnings are later this week. Maybe wait for that and then see if the stock can break out in heavy volume.
Earnings Report
The company reported 0% earnings growth in the latest quarterly report. Revenue increased 165%. The company reported its latest results today, May 4.
Royal Caribbean Group earns the No. 6 rank among its peers in the Leisure-Services industry group. OneSpaWorld Holdings, Life Time Group Holdings and Xponential Fitness are among the top 5 highly rated stocks within the group.
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