Cruise Lines Gain Momentum

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Travel stocks, airlines and cruise lines, are reaping the benefit of crude oil prices falling after President Biden announced the release of 1 million barrels a day for the next six months from the US’s strategic petroleum reserves.

The CDC has lifted its travel advisory on cruise lines, while travel stocks in general rose over the past couple of weeks.

By the numbers:

  • Carnival Corp (CCL) rose 3.2% to 20.22, reclaiming its 50-day line but still below its 200-day.
  • Norwegian Cruise Lines (NCLH) gained 3.1% to 21.88, trading between its 50-day and 200-day averages.
  • Royal Caribbean Cruises (RCL) rose 2.8% to 83.76 after retaking its 50-day and 200-day lines earlier in the week.

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Source: IBD

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