Seaworld stock continues higher following its upward channel.

Seaworld stock continues to push higher with its ascending channel formation. Support for the stock now sits at  $53.02 followed by the lows of $48.88. Towards the upside, tough resistance sits at  $60.68 with a minor resistance at $58.46. MACD has just turned postive and RSI reads 62.6. Overall this stock looks positive, with a potential bounce higher.

 

Comment: "While the technical side of the chart looks somewhat positive, it is important to understand that economic fears and inflation will pressure this stock as they rely on disposable incomes from the public in order to stay profitable. If a recession happens, then ticket sales could slow and the stock could move much lower. As a long-term play, this stock is mixed. In the short term, however the technicals point to a potential move higher."