Cruising Along:
As recreation names begin to make their presence felt, some are doing so more than others. MANU obviously has recorded a massive run. WWE rose 23% last week on the largest WEEKLY volume in nearly 2 years, and SEAS jumped 12% last week after breaking above a bullish falling wedge. THO is looking for a possible second consecutive double-digit WEEKLY gain depending on tomorrow’s CLOSE. Below we take a look at best in breed (using that word lightly with this niche entertainment space) RCL which has doubled in PRICE since last summer, but is still well off highs made at the very round par number several times in 2021. On a one-year look back period, the stock displayed relative “strength” down 24% compared to inferior peers in CCL and NCLH which fell 54 and 31% respectively over the same time frame. If this pulls back into the 60.50-61 area I think it is worth a shot on the long side with a stop of 55.