RCL: Upside gap points higher to 351 to 366

6/18/2026 – We previously highlighted a bearish setup for Royal Caribbean Group (RCL) in Straight from the Chart on April 15, 2026. RCL did break lower, but the breakdown proved temporary ahead of renewed upside and a gap higher this week, likely aided by lower oil prices.

RCL gapped up as WTI crude oil gapped down to start this week, moving the stock out of an early-March into mid-June basing pattern. This bullish setup remains intact above 304.40 (pattern neckline) and 300.83-294.78 (weekly upside gap), with upside potential back to the early-2026 and mid-2025 highs from 351.57 to 366.50.

This week's upside gap resembles the weekly upside gap from May 2025, after which RCL continued to rally from the mid 200s into the 350s-360s area.

RCL has rebounded relative to the SPX, but we would like to see a move above the relative weekly moving averages (WMAs) to confirm the improvement in both relative price and absolute strength.

The volume advance decline indicator (VAD) has moved back above its weekly moving averages, providing a leading-to-confirming indicator for RCL's upward breakout.

Chart 1: Royal Caribbean Group (RCL) (top), relative to the S&P 500 (center), and volume advance decline indicator (bottom): Weekly chart

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